Which of the following should be accounted for in an enterprise fund?   Light poles to be paid for in installments by affected property owners $ 350,000 Van used to transport supplies to all city departments on a cost reimbursement basis 65,000 Equipment used for supplying electric power to residents

The Western Falls School District received a $ 100,000 gift from a wealthy alumnus , and an agreement was reached that $10,000 per year would be paid to the valedictorian of the high school class as a freshman scholarship to college , until the funds were depleted . The $ 100,000 would be accounted for as : OA Private - Purpose Trust Fund A custodial fund An Expendable Trust Fund An investment trust fund

A not-for-profit organization receives $250 from a donor.  The donor receives two tickets to a theater show and an acknowledgment in the theater program.  The tickets have a fair market value of $50.  What amount is recorded as contribution revenue?  A.) 250 B.) 200 C.) 50 D.) 0

Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance. The Main City presents its income by sources and its expenses by function. The transactions and activities are: Property-tax revenues                                                 $3,000 Utilities                                                                             50 Wages and salaries                                                          900 Transfer to debt service fund                                          100 Estimated revenues                                                     3,500 State grant                                                                        800 Annual insurance premium                                              200 Proceeds of long-term debt                                        1,000 General administration                                                1,200 Charges for current services                                            600 Public safety…

During the current year, a voluntary health and welfare organization receives $800,000 in unrestricted pledges. Of this amount, $300,000 has been designated by donors for use next year to support operations in the pharmacy. what amount of unrestricted support should the organizations recognize in its current-year financial statements? A.) $800,000 B.) $700,000 C.) $500,000 D.) $400,000

Sagar

The City of Matlock issues $20,000,000 face value of general obligation bonds for $19,920,000. The bonds will be used for the construction of new streets and sidewalks to make downtown more walkable.  The City incurred $100,000 in bond issue costs.  What is the amount of expenditures that the City report in its Capital Projects Fund? $108,000 $100,000 $8,000 $0

Theodore County uses a General Fund, a Special Revenue Fund, and an Enterprise Fund. The Special Revenue Fund is financed by a grant from the state to provide care for the elderly. The Enterprise Fund provides bus service both to the public and to government agencies. Prepare entries to record these transactions. Identify the funds involved in each case. a. The Enterprise Fund bills the Special Revenue Fund $15,000 for bus service provided to the elderly. b. The General Fund receives an electricity bill for $20,000 and prepares a voucher to pay the bill. The General Fund then bills the Special Revenue Fund for $3,000, representing the portion of the electricity bill applicable to the senior citizens building. C. The Enterprise Fund is short of cash to pay its bills. The General Fund lends the Enterprise Fund $50,000 in cash, which will be repaid before the end of the year. d. The General Fund pays cash of $100,000 to the Enterprise Fund as a subsidy to help meet the operating costs of…

A community public works project will cost $92,000 and will benefit five different individuals. Individual Individual Benefit ($) Individual Cost ($)  1  4,500 6,000  2 18,500 15,000  3 19,000 17,000  4 30,000 24,000  5 29,000 30,000   Is this project economically feasible? Please show work in an Excel spreadsheet that lists the benefit for each individual. Would this project be approved by a majority at a community referendum?

The following transactions occurred in the City of Jim-town Enterprise Fund: 1. Equipment belonging to the Enterprise Fund was sold for $300. 2. The proceeds from the sale of the asset were transferred to the General Fund. 3. Cash, $2,800, was paid for construction costs. The cash was paid out of unrestricted cash available for any Enterprise Fund purpose i.e., was not set aside strictly for capital asset construction or acquisition. 4. Paid principal, $18, and interest, $59, on a mortgage note. 5. The Enterprise Fund collected $12,500 from external customers and $2,500 from the General Fund for services. 6. The City signed a lease for equipment. The present value of the future payments and fair value of the equipment is $5,000, and the City made a down payment of $500 7. Proceeds of bonds issued to refund previously outstanding bonds that had been issued to finance plant expansion several years earlier, $18,000. 8. Interest paid on the refunding bonds, $1,080. 9. Cash proceeds from…