Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 7, Problem 17.12EP
The City of Tutland issued $10 million, 6 percent, 10-year bonds at 101 to finance refurbishment of its water utility fund equipment. The bond issuance is reported in the water utility enterprise fund statement of
- a. A cash flow from operating activities.
- b. A cash flow from noncapital financing activities.
- c. A cash flow from capital and related financing activities.
- d. A cash flow from investing activities.
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Students have asked these similar questions
From the following information, you are required to prepare statement of revenues, expenditure and changes in fund balances, other financial sources and statement of net assets
Revenue department levied taxes and collected RO 665000 out of which RO 165000 has been outstanding
Department of ministry of commerce has issued 33000 bonds of RO 10 each at a discount of RO 2 per bond which is restricted for purpose of construction of Bus station
The same has been spent by the department for construction bus station and total amount of RO 330000 has been paid
The service department billed the other department RO 15000
Municipality issued 5% bonds of RO 55000 at RO 5 each at a premium of 10%
The General Fund of the Town of Mashpee transfers $115,000 to the debt service fund for a
$100,000 principal and $15,000 interest payment. The recording of this transaction would include:
a. A debit to Interest Expenditures in the General Fund.
b. A debit to Interest Expenditures in the governmental activities accounts.
c. A credit to Other Financing Sources - Interfund Transfers In in the debt service fund only.
d. A credit to Other Financing Sources - Interfund Transfers In in both the debt service fund and
governmental activities accounts.
Ibri township issued the following bonds during the year.
The bond issued to purchase equipment for vehicle repair service that is accounted for in an internal service fund RO 30,000,
The bonds issued to construct a new city hall RO 10,000
The bonds issued to improve its water utility, which is accounted for in an enterprise fund RO 50,000.
The amount of bond issued to be reported in the general fund is
a.
RO 10,000
b.
RO 50,000
c.
None of the options
d.
RO 30,000
Chapter 7 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 7 - Prob. 1QCh. 7 - Explain the reporting requirements for internal...Ch. 7 - A member of the city commission insists that the...Ch. 7 - Prob. 4QCh. 7 - What is the purpose of the Restricted Assets...Ch. 7 - Prob. 6QCh. 7 - Prob. 7QCh. 7 - When do GASB standards require interfund...Ch. 7 - Prob. 9QCh. 7 - What is meant by segment information for...
Ch. 7 - Prob. 11QCh. 7 - Internal Service Fund Reporting. (LO7-2) Financial...Ch. 7 - Proprietary Fund Operating Statement. (LO7-1)...Ch. 7 - Enterprise Fund Golf Course Management. (LO7-1)...Ch. 7 - Prob. 17.1EPCh. 7 - Which of the following would most likely be...Ch. 7 - Under GASB standards, the City of Parkview is...Ch. 7 - Prob. 17.4EPCh. 7 - Which of the following events would generally be...Ch. 7 - Proprietary funds a. Are permitted to integrate...Ch. 7 - Prob. 17.7EPCh. 7 - Prob. 17.8EPCh. 7 - Prob. 17.9EPCh. 7 - Prob. 17.10EPCh. 7 - The City of Tutland issued 10 million, 6 percent,...Ch. 7 - The City of Tutland issued 10 million, 6 percent,...Ch. 7 - Prob. 18EPCh. 7 - Prob. 19EPCh. 7 - Central Garage Internal Service Fund. (LO7-2) The...Ch. 7 - Internal Service Fund Statement of Cash Flows....Ch. 7 - Tribute Aquatic Center Enterprise Fund. (LO7-5)...Ch. 7 - Net Position Classifications. (LO7-5) During the...Ch. 7 - Central Station Enterprise Fund. (LO7-5) The Town...Ch. 7 - Enterprise Fund Journal Entries and Financial...Ch. 7 - Net Position Classifications. (LO7-5) The Village...Ch. 7 - Enterprise Fund Statement of Cash Flows. (LO7-5)...Ch. 7 - AppendixSolid Waste Enterprise Fund. (LO7-6) Brown...
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