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.       g) Charges to a local university for extra city police protection during sporting events. h) Barbers and hairdressers’ registration fees. i) Donation to government due to coronovirus. j) Parking

Q: A city constructs curbing in a new neighborhood and finances it as a special assessment. Under what…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: equired: Prepare the journal entries to record revenues and disbursements if the city treats the…

A: Solution:- a)Preparation of the journal entries to record revenue and disbursements if the city…

Q: The city skating rink is largely supported by a tax levied specifically for that purpose. The…

A: special revenue fund : A special revenue fund is an account that is established and maintained by a…

Q: Assume in question (9) that the city does not choose to report the painting on the government-wide…

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: A local government has the following transactions during the current fiscal period. Prepare journal…

A: Following are the journal entries:

Q: Which of the following would be considered a program revenue in the statement of activities for a…

A: Given: The consideration of the revenue program in the governmental activity statement.

Q: The state collects a gasoline tax that must be used to support highway construction and maintenance.…

A: The government collects tax from the people of the nation or state for their general and special…

Q: Using the information below, what amount should be accounted for in a special revenue fund or funds?…

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

Q: A city constructs curbing in a new neighborhood and finances it as a special assessment. Under what…

A: Governmental accounting's constant goal is control and accountability. It provides evaluating…

Q: When a city holds pension monies for city employees, the monies should be recorded in: O The general…

A: A Fiduciary fund

Q: A city starts a public library that has separate incorporation and gets some of its money for…

A: Determine the following statement is true or false with a brief explanation. If the city appoints 9…

Q: In which of the following fund types of a city government are revenues and expenditures recognized…

A: Funds refer to an amount of money which is set aside or saved by individuals, government, businesses…

Q: Which of the following accounts of a governmental unit is usually credited when taxpayers are billed…

A: Governmental bodies deal with the general fund. This fund is answerable for most of the easy…

Q: A city constructs a special assessment project (a sidewalk) for which it is secondarily liable. The…

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: 1) State whether each of the following items should be classified as taxes, licences and permits,…

A:

Q: Vouchers payable denote: a. A future liability estimated when order is made b. Amount due to…

A: Since multiple questions are asked, we will answer the first full question for you. You may repost…

Q: The City of Wilson receives a large sculpture valued at $240,000 as a gift to be placed in front of…

A:

Q: Identification of activities with particular governmental-type funds Using only the…

A: Governmental-Type Funds: “Used to account for activities largely financed by taxes, grants, and…

Q: Following are some of Vista Village’s events during calendar year 2021. For each event, state (a)…

A: The question is based on the concept of business transaction analysis.

Q: Balsam City's library board is appointed by the city council, which has agreed to subsidize the…

A: Reporting entity means an entity which satisfies the parameters and conditions for being reported.…

Q: The City of Francois, Texas, has begun the process of producing its current comprehensive annual…

A: Since the student has posted multiple questions, we shall answer the first three alone. Thank you.

Q: The City of Kastle purchased a vehicle for the parks department. If the operations of the parks…

A: As the asset is finance by general revenue hence it is part of general fund. Governmental activities…

Q: Using only the governmental-type funds, indicate which would be used to record each of the following…

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: For each of the following events or transactions, identity the fund that will be affected. A city…

A: The monetary sources of the government of a nation which are used to finance the activities or…

Q: The City of Barnes operates a central motor pool as an internal service fund for the benefit of the…

A: Money, assets, or property of the federal government, a state government, or a local government,…

Q: State whether each of the following items should be classified as taxes, licences and permits,…

A: Sales and use taxes levied by the government should be classified as taxes. Payments by citizens for…

Q: A city provides a local business with a tax abatement so that real estate taxes will be avoided for…

A: Tax abatement refers to deduction of taxes which is granted by the government for enhancing the…

Q: 1) State whether each of the following items should be classified as taxes, licences and permits,…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Which of the following constitute a tax and why? l  Payment for driver’s license?    l  Payment for…

A: Tax: It is an amount which is a compulsory contribution to government’s revenue and levied by the…

Q: Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance. The Main City presents…

A: Introduction The Statement of revenues and expenditures and changes in fund balance is operating…

Q: The citizens of a geographic area of the National City authorized a special assessment to be imposed…

A: Given is the information regarding the people of an area of the National city.

Q: During the current year, a government buys land for $80,000. Which of the following is not true?…

A: Land acquisition falls under the capital assets of a governmental organization. Investment in these…

Q: ustify the presentation of the required accounting and financial reports to a city, when it uses…

A: The purpose of financial reporting is to track, analyze and report the earnings of your business.…

Q: A city constructs a special assessment project (a sidewalk) for which it is secondarily liable. The…

A: The correct answer is 4. $100,000 expenditure for construction should be recorded in the capital…

Q: Hi, I am in advanced accounting and doing a balance sheet for state and local government. Can you…

A: Capital funds are maintained by governmental bodies to finance the capital projects needs.

Q: A city issues a 60-day tax anticipation note to fund operations until taxes have been collected.…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: A local government has the following transactions during the current fiscal period. Prepare journal…

A: Following are the journal entries:

Q: A city issues a 60-day tax anticipation note to fund operations until taxes have been collected.…

A: The correct answer is 2. i.e. A liability should be reported in the government-wide financial…

Q: 1) Determine whether each of the following elements should be classified as taxes, licenses,…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…