Consistency between governmental accounting

Assignment Help Accounting Basics
Reference no: EM1362617

It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?

Reference no: EM1362617

Questions Cloud

News release for red cross pr : News Release for Red Cross PR - Draft a news release that you will use in your public relations campaign for Red Cross and describe in detail how the content
What would be the braking distance : The train on the right accelerates leftward at 0.82 m/s2.How far does train on the left travel before the front ends of the trains pass.
When customer anticipated : Consider a perfectly competitive market with many homogenous exercise gyms. Exercise gyms have learned that customers tend to use the gym less often than the customer anticipated when she signed up.
Show product and process layout : Explain what is the difference between product layout and process layout? Which product and process layout represents your organization's current layout?
Consistency between governmental accounting : It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?
Demand without relaxing : Suppose that you are the manager of a professional soccer team and that you are negotiating a agreement with your team's star player. You can afford to pay the player only 1.5 million a year over three years
What is the value of the mutual force between them : What is the speed of a car going v = 1mph in SI units? Notice that you will need to change from miles to meters and from hours to seconds. You can do each conversion separately. mke Use of the facts that 1 mile = 1609m and 1hour = 3600s.
Describe purchasing and supply management : Describe the role of Purchasing and Supply Management in new product development as well as development of specifications and a standardization program.
Excess or lack of micronutrients in a fast food diet : What three facts do you find particularly interesting about the excess or lack of micronutrients in a fast food diet?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Accounting problems

Three years ago a piece of machine was purchased for $10,000. Assuming an eight-year life and straight-line depreciation, financial statements for the third year will show:

  Using target costing to fix pricing problems

The following conversation took place between Dean Lancaster, vice president of marketing, and Dina Conaway, controller of Redwood Computer Company:

  Business sector opportunities for accountants

Describe two business sectors you might want to work in if you were an accountant and explain why in 150 to 200 words.

  Accounting irregularities at xerox cases

Review SOX mandates, and determine what protections are currently in place to protect whistle-blowers. Take a position on whether more employees would be willing to blow the whistle on corporate misbehavior due to the provisions for whistle-blower..

  Applying overhead-journal entries and t-accounds

Prepare journal entries to record items (a) through (f) above [ignore item (g) for the moment]. Prepare T-accounts for Manufacturing Overhead and Work on Process. Post the relevant items from your journal entries to these T-accounts.

  Marginal tax rate and effective tax rate

Calculate the marginal tax rate and the effective tax rate for each of the C corporations. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot.

  Journal entry to record retirement of bonds

A company previously issued $2,000,000, 10% bonds, receiving a $120,000 premium. On the current year's interest date, after the bond interest was paid and after 40% of the total premium had been amortized, the company purchased the entire bond iss..

  Questions based on partnership

Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business

  Froeign statement translation

Determine the inventory value using both the temporal and current methods. Show how this will be reflected on Royal Tea's statements and the consolidated statements of U.S. Beverages. Use the following information for this calculation:

  Calculating value of ending inventory

Emerson Electronics had the following information related to its September inventory. Sales were made at $20 per unit and Emerson uses the perpetual inventory system. What is the value of ending inventory under FIFO?

  Differences in cash and accrual basic

A company will need to choose an accounting method. What are the differences between the cash basis of accounting and the accrual basis of accounting? When are income and expenses recognized under each method?

  Contribution plan-defined benefti plan

From an employer's point of view, what is preferred a defined contribution plan or a defined benefit plan. What are the cash ramifications as well as reporting requirements?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd