Reference no: EM131704724

Question: (Identification of funds when there are interfund transactions) Each of these transactions affects two funds. Use the following codes to identify the types of funds needed to record the transactions. GF General Fund CPF Capital Projects Fund DSF Debt Service Fund SRF Special Revenue Fund EF Enterprise Fund ISF Internal Service Fund PTF Pension Trust Fund

___ 1. The fund that finances the city's day-to-day activities makes a payment to the fund that invests money pending payment of pensions to city employees.

___ 2. The city's electric utility fund sends bills to the fund that serves as a central purchasing, storage, and supply agency for all city departments.

___ 3. The fund that operates a central motor pool for all village departments on a cost-reimbursement basis sends a bill to several departments for services.

___ 4. After completing a large capital project, the city had $75,000 left in the fund. As required by city charter, the fund transferred the $75,000 to the fund that accumulates resources to pay off the bonds sold to finance the capital project.

___ 5. To reduce the need for borrowing, the city transferred $500,000 from the fund that pays for day-to-day operating expenditures to the fund that accumulates resources to pay for acquiring capital assets.

___ 6. A city ordinance decreed that all parking fines, wherever collected, be placed in a separate fund and used to maintain the city zoo. Although the fines covered virtually all operating expenditures, the fund that finances day-to-day operating expenditures transferred $30,000 to the separate fund so it could acquire several new animals.