In the space provided, indicate whether the following revenues should be classified as program revenues (P) or
Question:
In the space provided, indicate whether the following revenues should be classified as program revenues (P) or general revenues (G) on the government-wide statement of activities.
1. Operating grants that can be used at the discretion of the city council.
2. Federal grants restricted for highway construction.
3. Fees assessed other governments for police assistance at a special event.
4. Interest and penalties on delinquent property taxes.
5. A special assessment for snow removal.
6. Building permits.
7. Motor vehicle fuel taxes restricted for road repair.
8. Library fines.
9. Investment earnings restricted for art preservation.
10. Gift for the purchase of new playground equipment.
Step by Step Answer:
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely