FUNDAMENTALS OF ADVANCED ACCOUNTING >I
6th Edition
ISBN: 9781307007350
Author: Hoyle
Publisher: MCG/CREATE
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Chapter 11, Problem 28P
Cash of $60,000 is transferred from the general fund to the debt service fund. What is reported on the government-wide financial statements?
- a. No reporting is made.
- b. Other Financing Sources increase by $60,000; Other Financing Uses increase by $60,000.
- c. Revenues increase by $60,000; Expenditures increase by $60,000.
- d. Revenues increase by $60,000; Expenses increase by $60,000.
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Cash of $20,000 is transferred from the general fund to the enterprise fund to pay for work that was done. What is reported on the government-wide financial statements?
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Revenues increase by $20,000; Expenditures increase by $20,000.
Revenues increase by $20,000; Expenses increase by $20,000.
Cash of $20,000 is transferred from the general fund to the enterprise fund to pay for work that was done. What is reported on the government-wide financial statements? Choose the correct.a. No reporting is made.b. Other Financing Sources increase by $20,000; Other Financing Uses increase by $20,000.c. Revenues increase by $20,000; Expenditures increase by $20,000.d. Revenues increase by $20,000; Expenses increase by $20,000.
Cash of $60,000 is transferred from the general fund to the debt service fund. What is reported on the fund financial statements? Choose the correct.a. No reporting is made.b. Other Financing Sources increase by $60,000; Other Financing Uses increase by $60,000.c. Revenues increase by $60,000; Expenditures increase by $60,000.d. Revenues increase by $60,000; Expenses increase by $60,000.
Chapter 11 Solutions
FUNDAMENTALS OF ADVANCED ACCOUNTING >I
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Prob. 4QCh. 11 - What measurement focus is used in fund financial...Ch. 11 - Prob. 6QCh. 11 - Prob. 7QCh. 11 - In applying the current financial resources...Ch. 11 - Prob. 9QCh. 11 - What are the five fund types within the...
Ch. 11 - Prob. 11QCh. 11 - What are the four fund types within the fiduciary...Ch. 11 - Prob. 13QCh. 11 - Fund financial statements have separate columns...Ch. 11 - The general fund of a city reports assets of...Ch. 11 - Why are budgetary entries recorded in the...Ch. 11 - How are budget results shown in the financial...Ch. 11 - Prob. 18QCh. 11 - Prob. 19QCh. 11 - Prob. 20QCh. 11 - How do governmental funds report capital outlay in...Ch. 11 - Prob. 22QCh. 11 - Prob. 23QCh. 11 - Prob. 24QCh. 11 - How is the issuance of a long-term bond reported...Ch. 11 - Prob. 26QCh. 11 - Prob. 27QCh. 11 - Prob. 28QCh. 11 - What is an internal exchange transaction, and how...Ch. 11 - Prob. 1PCh. 11 - Prob. 2PCh. 11 - Prob. 3PCh. 11 - Prob. 4PCh. 11 - Prob. 5PCh. 11 - Prob. 6PCh. 11 - Which of the following statements is correct about...Ch. 11 - Prob. 8PCh. 11 - Prob. 9PCh. 11 - The City of Bagranoff holds 90,000 in cash that...Ch. 11 - Prob. 11PCh. 11 - The general fund pays rent for two months. Which...Ch. 11 - A purchase order for 3,000 is recorded in the...Ch. 11 - At the end of the current year, a government...Ch. 11 - A government buys equipment for its police...Ch. 11 - A city acquires supplies for its fire department...Ch. 11 - Prob. 17PCh. 11 - The state government passes a law requiring...Ch. 11 - The state awards a grant of 50,000 to the Town of...Ch. 11 - A city issues a 60-day tax anticipation note to...Ch. 11 - A city issues five-year bonds payable to finance...Ch. 11 - The City of Dylan issues a 10-year bond payable of...Ch. 11 - Prob. 23PCh. 11 - A 110,000 payment is made on a long-term...Ch. 11 - A city constructs a special assessment project (a...Ch. 11 - A city constructs curbing in a new neighborhood...Ch. 11 - Which of the following is an example of an...Ch. 11 - Cash of 60,000 is transferred from the general...Ch. 11 - Cash of 60,000 is transferred from the general...Ch. 11 - Cash of 20,000 is transferred from the general...Ch. 11 - Cash of 20,000 is transferred from the general...Ch. 11 - Prob. 32PCh. 11 - A city orders a new computer for its general fund...Ch. 11 - Cash of 90,000 is transferred from a citys general...Ch. 11 - The governmental funds of the City of Westchester...Ch. 11 - Government officials of Hampstead County ordered a...Ch. 11 - A local government has the following transactions...Ch. 11 - Prepare journal entries for the City of Puddings...Ch. 11 - Prepare journal entries for a local government to...Ch. 11 - The following unadjusted trial balances are for...Ch. 11 - Prob. 41PCh. 11 - Chesterfield County had the following...Ch. 11 - Prob. 43PCh. 11 - Prob. 44PCh. 11 - Prob. 45PCh. 11 - Prob. 46PCh. 11 - Prob. 47PCh. 11 - Prob. 48PCh. 11 - Prob. 49PCh. 11 - Prob. 50PCh. 11 - Indicate (i) how each of the following...Ch. 11 - Fund A transfers 20,000 to Fund B. For each of the...Ch. 11 - Prob. 53PCh. 11 - Prob. 54PCh. 11 - Prob. 55PCh. 11 - Prob. 56PCh. 11 - Prob. 57PCh. 11 - Prob. 58PCh. 11 - Prob. 59P
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- Cash of $60,000 is transferred from the general fund to the debt service fund. What is reported on the fund financial statements? No reporting is made. Other Financing Sources increase by $60,000; Other Financing Uses increase by $60,000. Revenues increase by $60,000; Expenditures increase by $60,000. Revenues increase by $60,000; Expenses increase by $60,000.arrow_forwardCash of $20,000 is transferred from the general fund to the enterprise fund to pay for work that was done. What is reported on the fund financial statements?a. No reporting is made.b. Other Financing Sources increase by $20,000; Other Financing Uses increase by $20,000.c. Revenues increase by $20,000; Expenditures increase by $20,000.d. Revenues increase by $20,000; Expenses increase by $20,000.arrow_forwardFund 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…arrow_forward
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