Advanced Accounting
Advanced Accounting
12th Edition
ISBN: 9781305084858
Author: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Publisher: Cengage Learning
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Chapter 16, Problem 12E

a.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

b.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

c.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

d.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

e.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

f.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

g.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

h.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

i.

To determine

Introduction: Funds refers to an amount of money which is set aside or saved by individuals, government, businesses for paying unforeseen expenses or for any other purpose. Funds can be mutual funds, agency funds, trust funds, special revenue funds, permanent funds, enterprise funds, government funds.

To indicate: The fund in which recording of transactions will be made.

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For each of the following accounts indicate in which fund type it could be found. Select your answer from the following responses:   A.    Governmental funds only. B.    Proprietary funds only.       Bond Proceeds   Long Term liability for Compensated Absences   Deferred Inflows/Outflows of Resources   Taxes Receivable   Estimated Revenues     Operating Revenues
3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for $500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account revenues. should be recorded in the General fund journal as: a) Debit in 500S. b) Credit in 500$. c) Credit in 7500S. d) Gain on sale of equipment account will not recorded in general fund journal. Question Three: mini cases
KA  The following transactions take place:   • A commitment was made to transfer general revenues to the entity in charge of providing transportation for all government agencies.   • Construction bonds were issued at a premium. The premium is to be included in funds accumulated to retire the debt.   • Police salaries were paid.   • Interest and principal were paid on general obligation serial bonds.   Required: Indicate the name of the fund(s) in which each of the transactions or events should be recorded.

Chapter 16 Solutions

Advanced Accounting

Ch. 16 - Describe the difference between accounting for...Ch. 16 - Prob. 12UTICh. 16 - Prob. 1.1ECh. 16 - Prob. 1.2ECh. 16 - Prob. 1.3ECh. 16 - Prob. 1.4ECh. 16 - Prob. 1.5ECh. 16 - Prob. 1.6ECh. 16 - Prob. 1.7ECh. 16 - Prob. 1.8ECh. 16 - Prob. 1.10ECh. 16 - Prob. 2.1ECh. 16 - Prob. 2.2ECh. 16 - Prob. 2.3ECh. 16 - Prob. 2.4ECh. 16 - Prob. 2.5ECh. 16 - Prob. 2.6ECh. 16 - Prob. 2.7ECh. 16 - Prob. 2.8ECh. 16 - Prob. 2.9ECh. 16 - Prob. 2.10ECh. 16 - Prob. 3.1ECh. 16 - Prob. 3.2ECh. 16 - Prob. 3.3ECh. 16 - Prob. 3.4ECh. 16 - Prob. 4ECh. 16 - Special assessments levy, capital projects fund....Ch. 16 - Prob. 6ECh. 16 - Prob. 7ECh. 16 - Prob. 8ECh. 16 - Prob. 9ECh. 16 - Prob. 10ECh. 16 - Prob. 11ECh. 16 - Prob. 12ECh. 16 - Prob. 16.1.1PCh. 16 - Prob. 16.1.2PCh. 16 - Prob. 16.1.3PCh. 16 - Prob. 16.1.4PCh. 16 - Prob. 16.1.5PCh. 16 - Prob. 16.1.6PCh. 16 - Prob. 16.1.7PCh. 16 - Prob. 16.1.8PCh. 16 - Prob. 16.2.1PCh. 16 - Prob. 16.2.2PCh. 16 - Prob. 16.2.3PCh. 16 - Prob. 16.2.4PCh. 16 - Prob. 16.2.5PCh. 16 - Prob. 16.2.6PCh. 16 - Prob. 16.2.7PCh. 16 - Prob. 16.12.1PCh. 16 - Prob. 16.12.2PCh. 16 - Prob. 16.13.1PCh. 16 - Enterprise fund, general fund. In 2018, a city...Ch. 16 - Prob. 16.13.3PCh. 16 - Prob. 16.14PCh. 16 - Prob. 16.15PCh. 16 - Prob. 16.16PCh. 16 - Prob. 16.18.1PCh. 16 - Prob. 16.18.3PCh. 16 - Prob. 16.18.4PCh. 16 - Prob. 16.18.5PCh. 16 - Prob. 16.18.6PCh. 16 - Prob. 16.18.7PCh. 16 - Prob. 16.18.8PCh. 16 - Prob. 16.18.9PCh. 16 - Prob. 16.18.10PCh. 16 - Prob. 16.19.2PCh. 16 - Prob. 16.19.3PCh. 16 - Prob. 16.19.4PCh. 16 - Prob. 16.19.5PCh. 16 - Prob. 16.19.6PCh. 16 - Prob. 16.19.9PCh. 16 - Prob. 16.19.11PCh. 16 - Prob. 16.19.12PCh. 16 - Prob. 16.19.13PCh. 16 - Prob. 16.19.14PCh. 16 - Prob. 16.19.15PCh. 16 - Prob. 16.19.16PCh. 16 - Prob. 16.19.17PCh. 16 - Prob. 16.19.18PCh. 16 - Prob. 16.19.19PCh. 16 - Prob. 16.19.20PCh. 16 - Prob. 16.19.21PCh. 16 - Prob. 16.19.22P
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What is Fund Accounting?; Author: Aplos;https://www.youtube.com/watch?v=W5D5Dr0j9j4;License: Standard Youtube License