Questions from Accounting for Government and Non-Profit

Q: Assume that Nolanville's fiscal year ends on December 31. 1

Assume that Nolanville's fiscal year ends on December 31. 1. Nolanville's payroll for one of its departments is $15,000 per week. It pays its employees on the Thursday of the week following that in wh...

Q: What is the City's credit rating with the different Bond rating agencies

What is the City's credit rating with the different Bond rating agencies?

Q: Charter City issued $100 million of 6 percent, 20-

Charter City issued $100 million of 6 percent, 20-year general obligation bonds on January 1, 20Xl. The bonds were sold to yield 6.2 percent and hence were issued at a discount of $2.27 million (i.e.,...

Q: Favorable revenue-to-expenditure ratios may not always be as

Favorable revenue-to-expenditure ratios may not always be as favorable as they appear. In the management discussion and analysis accompanying its 20XS financial statements, Tiber County reported that...

Q: If governments don't preserve their infrastructure assets, they must depreciate them

If governments don't preserve their infrastructure assets, they must depreciate them . In 20XO , Bantham County incurred $80 million in costs to construct a new highway. Engineers estimate that the us...

Q: Government-wide statements are on a full accrual basis; fund

Government-wide statements are on a full accrual basis; fund statements are on a modified accrual basis. The East Eanes School District engaged in or was affected by the following events and transacti...

Q: Entries in both governmental funds and government-wide statements can be

Entries in both governmental funds and government-wide statements can be reconstructed from a city's schedule of changes in long-term debt. The accompanying table was drawn from the City of Fort Leah'...

Q: Key information as to long-term obligations may be found in

Key information as to long-term obligations may be found in a city's annual comprehensive financial report (ACFR) in sections other than the primary financial statements. This problem is based on info...

Q: Did the city enter into any SBITAs? What type and for

Did the city enter into any SBITAs? What type and for how long?

Q: This example provides an overview of transactions addressed in this and previous

This example provides an overview of transactions addressed in this and previous chapters. Zeff Township assessed property owners $1,000,000 to construct sidewalks. The assessments were payable over a...