Questions from Advanced Accounting

Q: 1. The billings for transportation services provided to other governmental units

1. The billings for transportation services provided to other governmental units are recorded by the internal service fund as: a Interfund exchanges b Intergovernmental transfers c Transportation appr...

Q: The following events and transactions relate to the levy and collection of

The following events and transactions relate to the levy and collection of property taxes for Jedville Township: March 21, 2016—Property tax bills for $2,500,000 are sent to property owners. An estima...

Q: List the required governmental fund financial statements under GASB 34. On

List the required governmental fund financial statements under GASB 34. On what basis of accounting are these statements prepared?

Q: A general ledger trial balance for Any City contained the following balances

A general ledger trial balance for Any City contained the following balances at June 30, 2013, just before closing entries were made: Due from other funds.......................................... $6...

Q: The following information relates to revenues and expenses for a private not

The following information relates to revenues and expenses for a private not-for-profit college: Tuition and Fees Total assessed..........................................................................

Q: What are the three sections of a CAFR? Briefly identify the

What are the three sections of a CAFR? Briefly identify the contents of each section.

Q: A general ledger trial balance at June 30, 2013, for

A general ledger trial balance at June 30, 2013, for Millar City is as follows: Millar City uses a purchases basis in accounting for supplies. Open encumbrances are considered constrained by the hig...

Q: The trial balance of the general fund of Madelyn City before closing

The trial balance of the general fund of Madelyn City before closing at December 31, 2013, contained the following accounts and balances: Fund balance—unassigned............................ $25,000 E...

Q: Prepare entries in the general fund to record the following transactions and

Prepare entries in the general fund to record the following transactions and events: 1. Estimated revenues for the fiscal year were $250,000 and appropriations were $248,000. 2. The tax levy for the f...

Q: Prepare the journal entries required to record the following transactions in the

Prepare the journal entries required to record the following transactions in the general fund of Rochester Township. 1. Borrowed $75,000 by issuing six-month tax anticipation notes. 2. Ordered equipm...