Question
Using different types offunds, indicate which would be used to record each of the following transactions and events by matching between the transaction and the
Using different types offunds, indicate which would be used to record each of the following transactions and events by matching between the transaction and the appropriate fund or funds.
Sales taxes were collected by the state Tax Department. One-half of what was collected was deposited in the fund that accumulates resources to finance day-to-day operating activities, and one-half was held for remitting to other governments on whose behalf the state collects taxes.
Answer 1
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
A local taxes withheld are collected on behalf of another county.
Answer 2
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
General obligation bonds were retired, using resources accumulated in a fund used solely for that purpose.
Answer 3
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
A fund that accounts for government pension plans if the government is the trustee.
Answer 4
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
A municipal paid electricity bill for $2,000.
Answer 5
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
A city government paid construction costs of $12,000 on city hall building.
Answer 6
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
Establishment of an investment portfolio that contains several securities to benefit governments' employees.
Answer 7
Choose...
Permenant Fund PF
Capital Project FundCPF
General Fund GF
Investment Trust Fund ITF
Debt Service Fund DSF
Agency FundAF
Special Revenue Fund SRF
General Fund GF, Agency Fund AF
Pension Trust FundPTF
If you allow the question to be solved quickly and I only want the answer and I do not want an explanation / I only want the answer, thank you
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started