Questions from Accounting for Government and Non-Profit


Q: In January 20X0, Kirkland University receives a pledge of $200

In January 20X0, Kirkland University receives a pledge of $200,000 to be used exclusively to support research in a specialized area of communication disorders. The university's fiscal year ends on Jul...

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Q: The initial value to be assigned to an asset is not always

The initial value to be assigned to an asset is not always obvious. A city acquired general capital assets as follows: 1. It purchased new construction equipment. List price was $400,000, but the city...

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Q: Review the financial statements of Hamilton College in Chapter 2, and

Review the financial statements of Hamilton College in Chapter 2, and respond to the fo llowing questions: 1. What percentage of the college's total revenues (including nonoperating items and revenues...

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Q: Review the Statement of Activities of Hamilton College for the year ended

Review the Statement of Activities of Hamilton College for the year ended June 30, 20X0, which is presented in Table 2-11. The statement indicates that during the year net assets increased by $40,604,...

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Q: JMH (a not-for-profit) Rehabilitation Center engaged

JMH (a not-for-profit) Rehabilitation Center engaged in the following transactions during its most recent fiscal year: 1. Michael Vincent donated $625,000 to the hospital to help pay for the purchase...

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Q: Financial ratios are useful in comparing one not-for-profit

Financial ratios are useful in comparing one not-for-profit to another. The data below pertaining to two not-for-profit hospices were taken from GuideStar, an online database (www.guidestar. org) that...

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Q: Below are the abridged operating statements of two not for-profit

Below are the abridged operating statements of two not for-profit hospitals that serve similar populations. 1. What is the performance indicator of the hospitals? 2. Using the performance indicator, w...

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Q: The Dave Health-Care Center (DHCC)was created in

The Dave Health-Care Center (DHCC)was created in 20X0 to provide medical services to low-income residents of Dave Town. DHCC had the following transaction s during the year: 1. It received a pledge fr...

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Q: It is a matter of professional judgment whether and how certain entities

It is a matter of professional judgment whether and how certain entities should be included in the Financial Report of the U.S. Government. Based on the criteria set forth in this chapter and the limi...

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Q: For each of the following assets acquired by federal departments and agencies

For each of the following assets acquired by federal departments and agencies, indicate how the government should report the asset. If it is to be reported on the government's balance sheets, then sta...

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