General fund for fund based financial statements

Reference no: EM1351873

Indicate (i) how each of the following transactions impacts the fund balance of the General Fund for fund-based financial statements and (ii) what the impact is on the net asset balance of the governmental funds for government- wide financial statements.

A. Issue a five-year bond for $6 million to finance general operations.
B. Pay cash fo $149,000 for a truck to be used by the police department
C. The fire department pays $17,000 to a government motor pool that services the vehicles of only the police and fire departments.
D. Levy property taxes of $75,000 for the current year that will not be collected until four months into the subsequent year.
E. Receive a grant for $7000 that must be returned unless the money is spent according to the stipulations of the conveyance.
F. Make sales of $20 million during the current year. The government charges a 5 percent sales tax. Half of this amount is to be collected
10 weeks after the end of the year. "Available"has been defined by the government as 75 days.
G. Order a computer for the school system at an anticipated cost of $23,000
H. A cash transfer of $18,000 is approved from the General Fund to a Capital Projects Fund.

Reference no: EM1351873

Questions Cloud

Determine the monthly payments : If Hudson Corporation borrows $500,000 on a 10% add-on basis, payable in twelve equal end-of-month installments, how large would the monthly payments be?

Example on risk management : Explain the relationship between facilities management performance and insurance cost, at top rated restaurant, at a beach resort hotel.

Experimental analysis of behavior : Skinner was an American behaviorist who conducted extensive research related to the experimental analysis of behavior.

Discuss the concept of organizational behavior : Describe the extent to which communication omission, distortion, and overload take place in your organization and why does this happen

General fund for fund based financial statements : Discuss and explain how each of the following transactions impacts the fund balance of the General Fund for fund-based financial statements

Explain how many years would it take for it to double : If the average employee compensation grew at the rate of 3.5% per year, explain how many years would it take for it to double.

Intellectual capital : Would you consider Google's organizational structure an intellectual capital asset? Why or why not? Support your position.

Importance of nutrition-infancy and toddler-hood period : Briefly describe the importance of nutrition during the Infancy and Toddler-hood period. Summarize pediatric recommendations regarding early feeding and the introduction to cow's milk and sold foods

Explain the two systems cannot communicate with each other : Explain the two systems cannot communicate with each other where David Warmdigit a production manager at HandZone

User Account

All Pages