Questions from Accounting for Government and Non-Profit

Q: At the end of fiscal year 2017, the City of Columbus

At the end of fiscal year 2017, the City of Columbus General Fund pre-adjusting trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. he City of...

Q: For this exercise refer to the Denver government-wide statement of

For this exercise refer to the Denver government-wide statement of net position (p . 40 ), the Denver government-wide statement of activities (p.42), the American Diabetes Association balance sheet (p...

Q: The City of Waterville applied for a grant from the state government

The City of Waterville applied for a grant from the state government to build a pedestrian bridge over the river inside the city’s park. On May 1, 2017, the city was notified that it had been awarded...

Q: The following transactions occurred during the 2017 fiscal year for the City

The following transactions occurred during the 2017 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison...

Q: The following transactions affected various funds and activities of the Town of

The following transactions affected various funds and activities of the Town of Big Springs. 1. The Fire Department, a governmental activity accounted for within the General Fund, purchased $100,000 o...

Q: In 2017, Riverside began work on an outdoor amphitheater and concession

In 2017, Riverside began work on an outdoor amphitheater and concession stand at the city’s park. It is to be financed by a $3,500,000 bond issue and supplemented by a $500,000 General Fund transfer....

Q: Carmel County has prepared the following schedule related to its capital asset

Carmel County has prepared the following schedule related to its capital asset activity for the fiscal year 2017. Carmel County has governmental activities only, with no business-type activities. Re...

Q: The City of Rochester signed a 30-year agreement with East

The City of Rochester signed a 30-year agreement with East Coast Real Estate, Inc. to lease a newly constructed building for city services. The city agrees to make an initial payment of $1,000,000 and...

Q: On July 20, 2017, the building occupied by Sunshine City’s

On July 20, 2017, the building occupied by Sunshine City’s Culture and Recreation Department suffered severe structural damage as a result of a hurricane. It had been 48 years since a hurricane had hi...

Q: In Fulbright County, the Culture and Recreation Department constructed a library

In Fulbright County, the Culture and Recreation Department constructed a library in one of the county’s high growth areas. The construction was funded by a number of sources. Below is selected informa...