ACCOUNTING F/GOVT+NONPROFIT CONNECT+>I
17th Edition
ISBN: 9781308820217
Author: RECK
Publisher: Mcgraw-Hill/Create
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Textbook Question
Chapter 13, Problem 14.4EP
In a local NFP elementary school’s statement of
- a. A financing activity.
- b. A capital and related financing activity.
- c. An investing activity.
- d. An operating activity.
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Students have asked these similar questions
In a governmental fund, which one of the following constitutes revenue?a. Cash received from another fund of the same unitb. Bond proceedsc. Property taxesd. Refund on an invoice for fuel
From the list below categorize the items as they would appear on a:
a. Statement of Cash Flow
b. Statement of Financial Performance
1. Cash and Cash Equivalent
2. Parish Development Facility
3. Advances to Staff
4. Local Park Fees
5. Inventory and Consumables
6. Special Services
7. Property Rate
8. Social Benefit
9. Market Tolls
10. Consumption of Fixed Assets
11. Infrastructure, Plant and Equipment
12. Permit Fees
13. Proceeds from Sale of Equity
14. Established Posts
15. Development Bonds Issued
16. Business Income
17. Loans Received
18. Local Fund
19. Rent from Land and Building
20. Central Government Salaries
Which of the following would be considered a general capital asset?
Select one:
a. Real estate purchased with the assets of a pension trust fund.
b. A vehicle purchased from General Fund revenues.
c. A vehicle purchased and maintained by an enterprise fund.
d. A computer purchased from revenues of an internal service fund and used by the supplies department.
Chapter 13 Solutions
ACCOUNTING F/GOVT+NONPROFIT CONNECT+>I
Ch. 13 - Prob. 1QCh. 13 - Prob. 2QCh. 13 - Prob. 3QCh. 13 - Prob. 4QCh. 13 - Prob. 5QCh. 13 - Prob. 6QCh. 13 - Prob. 7QCh. 13 - What criteria must be met before an NFP...Ch. 13 - Prob. 9QCh. 13 - What are joint costs, and how are joint costs...
Ch. 13 - Prob. 11CCh. 13 - Prob. 13CCh. 13 - Prob. 14.1EPCh. 13 - Prob. 14.2EPCh. 13 - Prob. 14.3EPCh. 13 - In a local NFP elementary schools statement of...Ch. 13 - Prob. 14.5EPCh. 13 - Prob. 14.6EPCh. 13 - The Maryville Cultural Center recently conducted a...Ch. 13 - Prob. 14.8EPCh. 13 - Prob. 14.9EPCh. 13 - Prob. 14.10EPCh. 13 - Prob. 15EPCh. 13 - Donated Services. (LO14-3) Indicate whether each...Ch. 13 - Prob. 17EPCh. 13 - Prob. 18EPCh. 13 - Statement of Activities. The Atkins Museum...Ch. 13 - Prob. 20EPCh. 13 - Prob. 21EPCh. 13 - Prob. 22EPCh. 13 - Prob. 23EPCh. 13 - Prob. 24EP
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- 9. The cost of construction of a university dormitory would be shown on a cash flow statement as a. Cash flows from operations. b. Cash flows from investing activities. c. Cash flows from financing activities. d. Cash flows from noncapital financing. 10. Cash flows from a public university bookstore would appear on the statement of cash flows as a. Cash flows from operations. b. Cash flows from investing activities. c. Cash flows from financing activities. d. Cash flows from noncapital financing 11. Public universities must disclose separately in their cash flow statements a. Capital and noncapital related investing activities. b. Capital and noncapital related financing activities. c. Capital and noncapital related operational activi- ties. d. Capital and noncapital related changes in net as- sets.arrow_forwardCategorize the following as source or use of funds. Also classify them under operating,investing and financing activities sections of cashflow statement (indirect method)a. Selling a piece of land b. Dividend paid c. payment of some accrued taxesd. reducing inventory level e. Depreciation charges f. Sale of government bondsarrow_forwardIdentify the following funding sources as primarily public or private.a. Municipal bondsb. Retained earningsc. Sales taxesd. Automobile license feese. Bank loansf. Savings accountsg. Engineer’s retirement planh. State fishing license revenuesi. Entrance fees to Disneylandj. State park entrance feesarrow_forward
- Identify the letter that best describes the accounting and reporting by the following funds and account groups:1. Enterprise fund fixed assets.2. Capital projects fund.3. General fixed assets.4. Infrastructure fixed assets.5. Enterprise fund cash.6. General fund.7. Agency fund cash.8. General long-term debt.9. Special revenue fund.10. Debt service fund.a. Accounted for in a fiduciary fund.b. Accounted for in a proprietary fund.c. Accounted for in a quasi-endowment fund.d. Accounted for in a self-balancing account group and included in financial statements.e. Accounted for in a special assessment fund.f. Accounts for major construction activities.g. Accounts for property tax revenues.h. Accounts for payment of interest and principal on tax-supported debt.i. Accounts for revenues from earmarked sources to finance designated activities.j. Reporting is optional.arrow_forwardGovernmental funds report current financial resources. However, governmental funds may report some assets which are not current financial resources. Which of the assets below is acurrent financial resource at December 31, 2022? A. An advance to an enterprise fund that is scheduled to be repaid in February, 2024. B. Due from other funds. C.A and B. D.Neither A nor B.arrow_forwardWhich of the following types of information would be included in total net assets in the statement of financial position for a not-for-profit organization?a. total current assets.b. long-term liabilities.c. types of individual funds the entity has.d. unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.arrow_forward
- Eureka City should issue a statement of cash flows for which of the following funds? Eureka City HallCapital Projects Fund Eureka WaterEnterprise Fund a. b. c. d. No No Yes Yes Yes No No Yesarrow_forward3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for $500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account revenues. should be recorded in the General fund journal as: a) Debit in 500S. b) Credit in 500$. c) Credit in 7500S. d) Gain on sale of equipment account will not recorded in general fund journal. Question Three: mini casesarrow_forwardVouchers payable denote: a. A future liability estimated when order is made b. Amount due to government from user charges c. A liability incurred when goods/services are received d. Amount payable by government on long term debts Question 2 Question text Which of the following is not an example of the function of an Agency Fund? a. Collection of property tax by one government unit for the other b. All the options listed c. Payment of interest and principle on long-term debt d. Collection of local government sales taxes by the state governmentarrow_forward
- For each of the following accounts indicate in which fund type it could be found. Select your answer from the following responses: A. Governmental funds only. B. Proprietary funds only. Bond Proceeds Long Term liability for Compensated Absences Deferred Inflows/Outflows of Resources Taxes Receivable Estimated Revenues Operating Revenuesarrow_forwardExtra money was left over from a construction project is transferred for payment of interest on general obligation bonds used to finance the project. Which funds would be involved in this transfer of cash? A) Capital Projects Fund & Debt Service Fund. B) Agency Fund & Debt Service Fund. C) Capital Projects Fund & General Fund. D) Capital Projects Fund & Agency Fund.arrow_forwardThe long-term asset account group is used for which of the following funds? Enterprise Capital Projects Internal Service General Both b and darrow_forward
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