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Governmental Funds General Capital Assets and General Long - Term Liabilities non fund accounts Proprietary Funds Fund Financial Assets - Related Liabilities = Fund Balance
Governmental Funds General Capital Assets and General LongTerm Liabilities non fund accounts Proprietary Funds
Fund Financial Assets Related Liabilities Fund Balance General Capital Assets General LongTerm Liabilities Net Position Current Assets NonCurrent Assets Current Liabilities LongTerm Liabilities Net Position
Analyze the effects of the following transactions on the accounting equations of the various funds and nonfund accounts of a state or local government. For any borrowing transactions, reflect any necessary yearend interest accruals in your responses.
A government incurred a paid salaries for general government employees, $
A government purchased a truck for $ cash for the use of a general government department that is financed from restricted taxes that can be used only to support the department's programs.
A government issued $ of year bonds to help finance expansion of a facility used by one of its public utility operations. The bonds were issued at par months before year end and pay interest annually.
A government issued a month, note payable for $ The note was issued months before the end of the fiscal year to provide financing for various programs that are financed primarily from general tax revenues.
A government issued general obligation bonds at par, $ million, to finance construction of a new school building. The bonds bear interest at payable annually, and were dated and issued months before the end of the year.
The government purchased land for the site of the school, $
The government incurred and paid construction costs on the school building, which was completed during the year, $
The government's governing body ordered that the unused school bond proceeds be set aside for paying principal and interest on the bonds, and those resources were set aside in the appropriate fund.
General tax revenues, $ were paid to the fund to be used to pay principal and interest on the school bonds.
The first annual interest payments on the school bonds came due and was paid.
The month note from item was repaid with interest when due.
The governmentowned public utility sold services to the public on account, $ million; no uncollectibles are expected.
The governmentowned public utility sold services to other departments of the government, $ The other departments have paid all but $
The government sold a police department computer for $ Its original cost years earlier was $ At the time of purchase the computer was expected to be used for years and have a $ residual value.
The government paid $ principal and $ interest on a longterm note when due, at midyear.
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