Question
For each of the following situations, indicate which fund would be used to report the transaction. GF - general fund, SRF - special revenue fund,
For each of the following situations, indicate which fund would be used to report the transaction.
GF- general fund, SRF- special revenue fund, DSF- debt service fund, CPF- capital projects fund, PF- permanent fund, EF-Enterprise Fund, ISF-Internal Service Fund, PPTF- private purpose trust fund, AF- Agency fund:
1 | Supplies were purchased by central purchasing function. |
2 | The City sold bonds to construct new roads around the City. |
3 | A city-owned electric utility sent bills to a separate school board |
4 | A bank saving account held for rightful owners. |
5 | The city received its share of a state sales tax that is legally required to be used to improve library facilities. |
6 | The engineers and employees who were building a major facility were paid. |
7 | The City received an endowment from a rich citizen to be held in perpetuity, the investment income must be used to support the parks on the City. |
8 | The City Mass Transit facility received an operating subsidy from the city and grant from the federal government |
9 | City owned airport fund bought equipment. |
10 | A centralized purchasing facility billed the general city operations for part of the cost of the purchasing operations. |
11 | The city centralized printing facility billed the city tax department for printing tax forms. |
12 | The police department purchased 10 police cars |
13 | The city paid the principal and interest on a bond issue from resources that were accumulated for the purpose of making the payment. |
14 | Assets held for rightful owners |
15 | The city levied a gasoline tax for the purpose of maintaining streets. |
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