Loose-leaf For Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781260190083
Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Daniel Neely
Publisher: McGraw-Hill Education
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Question
Chapter 3, Problem 19EP
To determine
Indicate whether the given expenditure items must be classified as Taxes (T), Licenses and permits (LP), Intergovernmental revenues (I), charge for service (CS), Fines and forfeits (FF) or Miscellaneous revenues (M).
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1) Determine whether each of the following elements should be classified as taxes, licenses, permits, intergovernmental revenues, service fees, fines, forfeiture, or miscellaneous income in a government fund.
A) Government sales and usage taxes.
B) Citizen payments for the use of the city pool.
C) Building permits to build a roof in a house
2) Explain income, expenses, receipts, and payment? Draw the figure with an example? What is the difference between the two statements?
1) State whether each of the following items should be classified as taxes, licences and permits, intergovernmental revenues, charges for services, fines and forfeits or miscellaneous revenue in a governmental fund.
a) Sales and use taxes levied by the government.
b) Payments by citizens for use of the city pool.
c) Building permits to construct a deck at a residence
A city creates a solid waste landfill. It assesses a charge to every person or company that uses the landfill based on the amount of materials contributed. In which of the following will the landfill probably be recorded? Choose the correct.a. General fund.b. Special revenues funds.c. Internal service funds.d. Enterprise funds.
Chapter 3 Solutions
Loose-leaf For Accounting For Governmental & Nonprofit Entities
Ch. 3 - Prob. 1QCh. 3 - Discuss the different ways in which depreciation...Ch. 3 - Prob. 3QCh. 3 - Prob. 4QCh. 3 - Explain the essential differences between revenues...Ch. 3 - Prob. 6QCh. 3 - How do Budgetary Fund Balance and Fund Balances...Ch. 3 - Prob. 8QCh. 3 - Prob. 9QCh. 3 - Prob. 10Q
Ch. 3 - The city manager of University City is finalizing...Ch. 3 - Prob. 16.1EPCh. 3 - Prob. 16.2EPCh. 3 - Which of the following accounts neither increases...Ch. 3 - Prob. 16.4EPCh. 3 - Which of the following statements is true for...Ch. 3 - An internal allocation of funds on a periodic...Ch. 3 - Prob. 16.7EPCh. 3 - Prob. 16.8EPCh. 3 - Before placing a purchase order, a department...Ch. 3 - Prob. 16.10EPCh. 3 - Which of the following is correct concerning the...Ch. 3 - Prob. 16.12EPCh. 3 - Prob. 16.13EPCh. 3 - Prob. 16.14EPCh. 3 - Supplies ordered by the Public Works function of...Ch. 3 - Prob. 17EPCh. 3 - Prob. 18EPCh. 3 - Prob. 19EPCh. 3 - The following information is provided about the...Ch. 3 - On February 15, the Town of Evergreen police...Ch. 3 - The Town of Willingdon adopted the following...Ch. 3 - During July, the first month of the fiscal year,...Ch. 3 - The Town of Bedford Falls approved a General Fund...Ch. 3 - The printout of the Revenues and Appropriations...Ch. 3 - Review the computer-generated budgetary comparison...Ch. 3 - Prob. 27EPCh. 3 - Greenville has provided the following information...
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