Questions from Advanced Accounting

Q: For each of the following transactions, note the fund(s

For each of the following transactions, note the fund(s) affected, and prepare appropriate journal entries. 1. General obligation bonds with a par value of $750,000 are issued at $769,000 to finance c...

Q: The postclosing trial balance for the Village of Alantown general fund at

The postclosing trial balance for the Village of Alantown general fund at June 30, 2016, shows the following ledger account balances: Debits Cash.........................................................

Q: 1. Fiduciary funds include four different types of funds. Which

1. Fiduciary funds include four different types of funds. Which of the following is not one of these types? a Agency funds b Tax collection funds c Private-purpose trust funds d Pension trust funds 2...

Q: Han filed a petition under Chapter 7 of the bankruptcy act on

Han filed a petition under Chapter 7 of the bankruptcy act on June 30, 2016. Data relevant to its financial position as of this date are: REQUIRED: 1. Prepare a statement of affairs assuming that th...

Q: The following data are available from the City of Boulder’s financial records

The following data are available from the City of Boulder’s financial records on September 30, 2016: a. The net change in fund balance—total governmental funds for the city is $1,408,950. b. The city...

Q: What is the accounting equation for an agency fund?

What is the accounting equation for an agency fund?

Q: What organization provides accounting standards for state and local governmental units?

What organization provides accounting standards for state and local governmental units? What hierarchy of authority do they use?

Q: What is the purpose of the statement of functional expenses of voluntary

What is the purpose of the statement of functional expenses of voluntary health and welfare organizations?

Q: Under what circumstances will a proprietary fund be required to report segment

Under what circumstances will a proprietary fund be required to report segment information?

Q: How might the enterprise fund amounts on the proprietary fund statement of

How might the enterprise fund amounts on the proprietary fund statement of net position differ from the amounts reported as “business-type activities” on the government-wide statement of net position?...