Questions from Accounting for Government and Non-Profit

Q: Evergreen County acts as the disbursing agent for a state grant for

Evergreen County acts as the disbursing agent for a state grant for the performing arts. The state is responsible for determining which local governments are eligible for the grant money and for follo...

Q: Ray County administers a tax agency fund, an investment trust fund

Ray County administers a tax agency fund, an investment trust fund, and a private-purpose trust fund. The tax agency fund acts as an agent for the county, a city within the county, and the school dist...

Q: Utilizing the CAFR obtained for Exercise 1–16, in Chapter

Utilizing the CAFR obtained for Exercise 1–16, in Chapter 1, review the governmental fund financial statements and related data and government-wide financial statements. Note particularly these items:...

Q: Utilizing the comprehensive annual financial report (CAFR) obtained for Exercise

Utilizing the comprehensive annual financial report (CAFR) obtained for Exercise 1–16, follow these instructions: a Internal Service Funds. (1) Use of Funds. What activities of the government are repo...

Q: For each of the following fund types, indicate its fund category

For each of the following fund types, indicate its fund category by placing either “GF” for governmental funds, “PF” for proprietary funds, or “FF” for fiduciary funds in the space provided before eac...

Q: Categories. For each fund or government-wide category listed in

Categories. For each fund or government-wide category listed in the left-hand column, choose the letter(s) of the applicable fund type or characteristic in the right-hand column. Multiple letters may...

Q: Choose the letter of the sample transaction in the right-hand

Choose the letter of the sample transaction in the right-hand column that would most likely be reported in the fund listed in the left-hand column. Fund 1. Agency 2. Capital projects 3. Debt service 4...

Q: During July 2016, the first month of the 2017 fiscal year

During July 2016, the first month of the 2017 fiscal year, the Town of Willingdon issued the following purchase orders and contracts: General government………………….……………………$ 800,000 Public safety……………………...

Q: Forest City has recently implemented GAAP reporting and is attempting to determine

Forest City has recently implemented GAAP reporting and is attempting to determine which of the following special revenue funds should be classified as “major funds”...

Q: The printout of the Revenues and Appropriations subsidiary ledger accounts for the

The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta as of March 31, 2017, appeared as follows: Required: Assuming that this printo...