sub= 24 03:12:2730: 0.07 yoD :4G..l 52KB/S LTEDmedia.cheggcdn.com/media/9de/9de :187. Which of the following funds should be reportedas part of local government's governmental activitiescolumn in its government-wide statements?a. Debt serviceb. Agencyc. Private-purpose trust.d. Pension trust.188. A nongovernmental not-for-profit organization'sstatement of activities is similar to which of the fol-lowing for-profit financial statements?a. Balance sheet.b. Statement of cash flows.c. Statement of retained earnings.d. Income statement.->3 |

As per our guidelines we are supposed to answer only one question (if there are multiple questions…

Answered: d. Pension trust. 188. A…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Entity XYZ is a national government agency. Some of the major transactions of the agency for the year 202X were as follows: 1.The approved legislative appropriation for the year was 1 Billion. 10% of this appropriation was alloted by the Department of Budget and Management (DBM) to Entity XYZ.This allotment is broken down as follows: Capital Outlay 50% Maintenance and other operating expenses (MOOE) 40% Personnel Services (PS) 10% 2.Received Notice of Cash Allocation (NCA) from DBM, P20 million,net of tax 3.Obligations were incurred as follows: Capital Outlay 5million Obligation for (MOOE) 3million Personnel Services (PS) 2million 4. Delivery of office equipment and office supplies on account: office equipment 3million office supplies 200,000 5.Payable to officers and employees upon approval of payroll: Salaries and wages P1,000,000 Personnel economic relief allowance(PERA) 150,000 Gross Payroll 1,150,000 Less:Deductions Withholding Tax P35,000 Government service Insurance…
Entity XYZ is a national government agency. Some of the major transactions of the agency for the year 202X were as follows: 1.The approved legislative appropriation for the year was 1 Billion. 10% of this appropriation was alloted by the Department of Budget and Management (DBM) to Entity XYZ.This allotment is broken down as follows: Capital Outlay 50% Maintenance and other operating expenses (MOOE) 40% Personnel Services (PS) 10% 2.Received Notice of Cash Allocation (NCA) from DBM, P20 million,net of tax 3.Obligations were incurred as follows: Capital Outlay 5million Obligation for (MOOE) 3million Personnel Services (PS) 2million 4. Delivery of office equipment and office supplies on account: office equipment 3million office supplies 200,000 5.Payable to officers and employees upon approval of payroll: Salaries and wages P1,000,000 Personnel economic relief allowance(PERA) 150,000 Gross Payroll 1,150,000 Less:Deductions Withholding Tax P35,000 Government service Insurance…
Ch3 5 Which of the following items would not appear in a statement of revenues, expenditures, and changes in fund balances prepared for a governmental fund? Multiple Choice Depreciation expense. Interfund transfers in. Revenues from property taxes. Expenditures for employee salaries. 6. At the end of the fiscal year Encumbrances is closed to Budgetary Fund Balance with a credit. True or False
Ch4 9 Which of the following accounts would not be closed at the end of each fiscal year? Multiple Choice Fund balance. Estimated revenues. Interfund transfers out. Expenditures. 10 An interfund transfer in should be reported in a governmental fund operating statement as a(an): Multiple Choice Revenue. Due from other funds. Other financing source. Other financing use.
39. The receipt of which of the following may not give rise to the revenue by a government entity? Notice of Cash Allocation Tax Remittance Advice Subsidy from another Government entity Inter-agency fund transfer
Fund A transfers $20,000 to Fund B. For each of the following, indicate whether the statement is true or false and, if false, explain why.a. If Fund A is the general fund and Fund B is an enterprise fund, nothing will be shown for this transfer on the statement of activities within the government-wide financial statements.b. If Fund A is the general fund and Fund B is a debt service fund, nothing will be shown for this transfer on the statement of activities within the government-wide financial statements.c. If Fund A is the general fund and Fund B is an enterprise fund, a $20,000 reduction will be reported on the statement of revenues, expenditures, and other changes in fund balance for the governmental funds within the fund financial statements.d. If Fund A is the general fund and Fund B is a special revenue fund (which is not considered a major fund), no changes will be shown on the statement of revenues, expenditures, and other changes in fund balance within the fund financial…
Ch2 5 The types of funds that may be used in governmental accounting are classified into the three categories of governmental, proprietary, and fiduciary. True or False 6 Which of the following is a primary objective of financial reporting by state and local governments? Multiple Choice To provide information that can be used for capital allocation decisions made by external investors. To report on the legal requirements imposed on the government by its elected officials. To provide information that can be used to assess a government's accountability. To fulfill the government's statutory duty to report on cash received and cash disbursed.
On January 1, 20x1, Entity A receives a financial aid from the government amounting to ₱1M as compensation for losses it has incurred on a recent calamity. How much income from government grant will Entity A recognize in 20x1? 1,000,000 3 53,334 100,000 4. 0
36. Which of the following would result to an increase or decrease in the revenue reported by a government entity in its statement of financial performance? Impairment loss on amount already recognized as revenue Receipt of a pledge Receipt of donation in the form of service in kind The repayment of loan payable is forgiven
N1. [Para. 4-a-12] Services received by the General Government function of the General Fund from the Solid Waste Disposal Fund amounted to $28,500 during the year. Of this amount, $25,400 was paid in cash and $3,100 remained unpaid at year-end. Required: Record the receipt of these services, amounts paid during the year, and remaining liability in the General Fund and governmental activities journals. At the government-wide level the liability should be credited to Internal Payables in Business-type Activities. Do not record these items in the Solid Waste Disposal Fund until instructed to do so in Chapter 7 of this case.
In entity A’s first quarter Statement of Appropriations, Allotments, Obligations, Disbursements and Balances, how much is “unobligated allotments” P6B P5B P10B P15B The receipt of an allotment is recorded by a government entity in the? RAOD ORS RAPAL a and c The incurrence of an obligation for future delivery or performance by the oblige is recorde by a government entity in the RAOD ORS RAPAL a and b The receipt of an appropriation is recorded by a government entity in the RAOD ORS RAPAL a and b The entry to record the receipt of Notice of Cash allocation (NCA) by a government entity is: Debit Cash-Modified Disbursement System (MDS), Regular; Credit Accumulated Surplus (Deficit) Debit Cash-Modified Disbursement System (MDS), Regular; Credit Subsidy from National Government Debit Cash Collecting Officer; Credit Subsidy from National Government No Entry According to the Revised Chart of Accounts issued by COA, the “Subsidy from National Government” account is Asset…
Government Accounting-you will do a 5 page power point slide presentation and use the GASB codification as your guidance. Please include the following: Explain what the CAFR is Provide an outline for the minimum content of a CAFR Select a local CAFR (I can help you with this step) and identify the following: a. the entity’s most significant source of revenues and most significant expense; b. the entity’s most significant asset, and its most significant liability; c. two of the individual funds used by the government d. who prepared the report; e. who audited the report, and using what auditing standards.

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

d. Pension trust. 188. A nongovernmental not-for-profit organization's statement of activities is similar to which of the fol- lowing for-profit financial statements? a. Balance sheet. b. Statement of cash flows. c. Statement of retained earnings. d. Income statement.