Acct 625 Week 13 question Please also show your work for any computations in the multiple-choice questions or the problems. 1. Fair value accounting is required for investments in: a. External investment pools b. Open-end mutual funds c. Bonds and other debt securities d. All of the above 2. Pacheco City issued $20 million of bonds at par. The city loaned the proceeds to Sharpe Cheese Processors to expand the size of its facility, which would allow Sharpe to hire additional workers. The loan payments from Sharpe to the city are established to match the principal and interest payments on the bond issue. The bonds are payable exclusively from the loan repayments by Sharpe. The bonds are secured by the additional plant facilities built by Sharpe. Where should the city report the bonds in its annual financial report? a. In the government-wide financial statements. b. In the notes to the financial statements. c. In the proprietary fund financial statements. d. In any of the above ways. 3. The following transactions were among those reported by Morris City?s water utility enterprise fund for the current year: Proceeds from sales of revenue bonds - $3,900,000; Cash received from customer households - $1,600,000; and Capital contributed by subdivisions - $700,000. In the water utility enterprise fund?s statement of cash flows for the current year, what amount should be reported as cash flows from capital and related financing activities? a. $3,900,000 b. $6,200,000 c. $5,500,000 d. $4,600,000 4. Lomond City receives a federal grant to assist in nutrition programs for its senior citizens. The city will select the contractors that will provide meals and approve the participants in the program. The proceeds of this grant should be accounted for in which of the following funds of the city? a. A governmental fund. b. An enterprise fund. c. An agency fund. d. A private-purpose trust fund. 5. The Midwest Circulatory Diseases Society placed an advertisement in prominent publications in the region. The advertisement provided information about symptoms of the diseases and offered practical advice for controlling their immediate effects. The society?s accountants estimate that about 75 percent of the advertising copy was devoted to information about the disease and the remainder was an appeal for funds. The advertisement cost $20,000. Using the physical unit?s method of separating joint costs, how much of the cost of the advertisement should be reported as program costs? a. $20,000. b. $15,000. c. $10,000. d. $5,000.

Acct 625 Week 13 question Please also show your work for any computations in the multiple-choice questions or the problems. 1. Fair value accounting is required for investments in: a. External investment pools b. Open-end mutual funds c. Bonds and other debt securities d. All of the above 2. Pacheco City issued $20 million of bonds at par. The city loaned the proceeds to Sharpe Cheese Processors to expand the size of its facility, which would allow Sharpe to hire additional workers. The loan payments from Sharpe to the city are established to match the principal and interest payments on the bond issue. The bonds are payable exclusively from the loan repayments by Sharpe. The bonds are secured by the additional plant facilities built by Sharpe. Where should the city report the bonds in its annual financial report? a. In the government-wide financial statements. b. In the notes to the financial statements. c. In the proprietary fund financial statements. d. In any of the above ways. 3. The following transactions were among those reported by Morris City's water utility enterprise fund for the current year: Proceeds from sales of revenue bonds - $3,900,000; Cash received from customer households - $1,600,000; and Capital contributed by subdivisions - $700,000. In the water utility enterprise fund's statement of cash flows for the current year, what amount should be reported as cash flows from capital and related financing activities? a. $3,900,000 b. $6,200,000 c. $5,500,000 d. $4,600,000 4. Lomond City receives a federal grant to assist in nutrition programs for its senior citizens. The city will select the contractors that will provide meals and approve the participants in the program. The proceeds of this grant should be accounted for in which of the following funds of the city? a. A governmental fund. b. An enterprise fund. c. An agency fund. d. A private-purpose trust fund. 5. The Midwest Circulatory Diseases Society placed an advertisement in prominent publications in the region. The advertisement provided information about symptoms of the diseases and offered practical advice for controlling their immediate effects. The society's accountants estimate that about 75 percent of the advertising copy was devoted to information about the disease and the remainder was an appeal for funds. The advertisement cost $20,000. Using the physical unit's method of separating joint costs, how much of the cost of the advertisement should be reported as program costs? a. $20,000. b. $15,000. c. $10,000. d. $5,000