(Compare current financial resources measurement focus and modified accrual basis of accounting with economic resources measurement focus and accrual basis of accounting) Without making journal entries, describe the different treatment a governmen- tal entity would give the following transactions under

(a) the current financial resources measurement focus and modified accrual basis of accounting and

(b) the economic resources measurement focus and accrual basis of accounting. 1. Constructed a new firehouse. 2. Sent property tax bills to taxpayers and, based on past experience, expected to collect 80 percent of the amount billed during the year and 20 percent late in the following year.

3. Salaries for the last week of the year will not be paid until the first week of the next year.
4. Experienced several lawsuits during the year. Although no settlements were reached on the claims, city attorneys anticipated that they would be settled ultimately at a cost to the city of $200,000.