Questions from Accounting for Government and Non-Profit

Q: Following is a list of a number of accounts used by federal

Following is a list of a number of accounts used by federal agencies. Required: For each of the accounts listed indicate in Column A whether the account is a proprietary account (P) or a budgetary...

Q: Gail McCook, the administrative assistant of a local CPA firm,

Gail McCook, the administrative assistant of a local CPA firm, merged the files listing GAAS standards and GAGAS standards. Because the firm performs both GAAS and GAGAS audits, it is important to ide...

Q: Caring Community Hospital, a not-for-profit hospital,

Caring Community Hospital, a not-for-profit hospital, recorded the following transactions. 1. Received $20 as co-pay from a patient for an out-patient visit. Billed $500 to insurance. 2. Gift shop sal...

Q: Use Illustration 14–3 as a guide in completing this exercise

Use Illustration 14–3 as a guide in completing this exercise. ______1. Fredericksburg Chamber of Commerce ______2. American Diabetes Association ______3. American Legion ______4. American Museum of Na...

Q: You are the finance director of White Rock City. Your current

You are the finance director of White Rock City. Your current auditor informs you that he is retiring and selling his auditing practice. When you seek his advice regarding the hiring of the accounting...

Q: Collier County had the following federal award activity during the most recent

Collier County had the following federal award activity during the most recent fiscal year: Required: a. Based on size, which programs would be considered Type A programs? Type B programs? b. Base...

Q: Choose the best answer. 1. Under the hierarchy of

Choose the best answer. 1. Under the hierarchy of GAAP for a state and local government, which of the following has the highest level of authority? a. AICPA Practice Bulletins if specifically made app...

Q: Following is the audit report for the City of Prairie View.

Following is the audit report for the City of Prairie View. Citizens of Prairie View: Split Responsibility for Financial Statements We have audited the accompanying financial statements of the City of...

Q: The City of Greeley, Colorado’s, fire department, prepares annual

The City of Greeley, Colorado’s, fire department, prepares annual Performance Measures. Following are excerpts from the 2013 fire department performance report. Required: a. Examine...

Q: The United States Office of Management and Budget (OMB) provides

The United States Office of Management and Budget (OMB) provides guidance on the allow ability of costs under federal grant agreements in Uniform Administrative Requirements, Cost Principles, and Aud...