FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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please abswer both the questions within 30 minutes.
Calculate the operating margins for the following:
a) General Fund
1.4
b) General, Debt Service, and Library Funds aggregated. 22.81
Round percentages to one decimal.
Hint: The transfers out are routine transfers to the other two funds, so the entire net change in fund balance is the numerator in calculating
the General Fund's operating margin. Because the transfers in are from the aggregated funds, they should be ignored in calculating the
denominator for the aggregated funds operating margin.)
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Transcribed Image Text:Calculate the operating margins for the following: a) General Fund 1.4 b) General, Debt Service, and Library Funds aggregated. 22.81 Round percentages to one decimal. Hint: The transfers out are routine transfers to the other two funds, so the entire net change in fund balance is the numerator in calculating the General Fund's operating margin. Because the transfers in are from the aggregated funds, they should be ignored in calculating the denominator for the aggregated funds operating margin.)
Computation of a village's operating margin
The following information is extracted from a village's governmental funds statement of revenues, expenditures, and changes in fund
balances (amounts in thousands).
Selected data
General Debt Service Library
Total revenues
$16,416
$49
$29
Total expenditures
11,118
1,263
351
Excess (deficiency) of
revenues over expenditures
5,298
-1,214
-322
Transfers in
1,275
338
Transfers out
-1,613
Net change in fund balances
$230
$51
$9
Calculate the operating margins for the following:
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Transcribed Image Text:Computation of a village's operating margin The following information is extracted from a village's governmental funds statement of revenues, expenditures, and changes in fund balances (amounts in thousands). Selected data General Debt Service Library Total revenues $16,416 $49 $29 Total expenditures 11,118 1,263 351 Excess (deficiency) of revenues over expenditures 5,298 -1,214 -322 Transfers in 1,275 338 Transfers out -1,613 Net change in fund balances $230 $51 $9 Calculate the operating margins for the following:
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