Using the annual financial report obtained for Exercise 1-1, answer the following questions: a. Again looking at
Question:
Using the annual financial report obtained for Exercise 1-1, answer the following questions:
a. Again looking at the governmental fund financial statements, are any major debt service funds included? If so, list them.
b. Does your report include supplemental information including combining statements for nonmajor funds. If so, are any capital projects and debt service funds included?
c. Does your government report capital leases payable in the government-wide Statement of Net Position? If so, can you determine if new capital leases were initiated during the year? Can you trace the payments related to capital leases?
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a Yes the major debt service fund includes the collater...View the full answer
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Related Book For 
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0078025815
12th edition
Authors: Paul Copley
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