(Identification of activities recorded in governmental-type funds) Using only the governmental-type funds, indicate which would be used...

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(Identification of activities recorded in governmental-type funds) Using only the governmental-type funds, indicate which would be used to record each of the following events. GF SRF DSF CPF PF General Fund Special Revenue Fund Debt Service Fund Capital Projects Fund Permanent Fund 1. General governmental revenues were transferred to the fund used to accumulate resources to pay bond principal and interest. 2. The city received its share of a state sales tax that is legally required to be used to improve library facilities. 3. General property taxes are levied by the city. 4. The city purchased five fire engines. 5. The city received a grant from the state to build an addition to the city hall. 6. The city issued general obligation bonds to finance the construction of new police stations. 7. The mayor was paid his monthly salary. 8. Expenses for the operation of the police department were recorded. 9. A new bridge across the Red River was constructed. 10. Tax monies were collected. These amounts were legally required to be used to maintain the city park system. 11. General governmental revenues were transferred to the City Hall Construction Fund. 12. A contractor received partial payment for the work done on the new city hall. 13. The city workers were paid their weekly salaries. 14. Outstanding bonds were retired, using monies accumulated for that purpose. 15. A federal grant was received to help pay for the cost of constructing the new city hall. 16. The city received a donation from a taxpayer, with the stipulation it be invested and kept in perpetuity, so that the income from the investments could be used to buy library books. 17. The city received income from the investments made in part (16).

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Introduction To Government And Not For Profit Accounting

ISBN: 9780130464149

5th Edition

Authors: Martin Ives, Joseph R. Razek, Gordon A. Hosch

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