What is a committed fund balance in a governmental funds

Assignment Help Accounting Basics
Reference no: EM13122717

What is a committed fund balance in a governmental funds balance sheet? How does it differ from a restricted fund balance?

Reference no: EM13122717

Questions Cloud

Analyzing the code of professional conduct : Evaluate the importance of ethics in accounting. Do you think ethical behavior is more or less important in this profession than in others? Defend your position. Analyze the code of professional conduct, including enforceable and non-enforceable p..
Amt statutory exemption : Dunn Corporation's taxable income is less than $40,000. The corporation is not eligible for the AMT small corporation exemption. The CPA preparing the return does not calculate the AMT because he knows that taxable income is less than the AMT stat..
What is a constructive dividend : What is a constructive dividend? Under what circumstances is the IRS likely to argue that a constructive dividend has been paid?
Understand the purpose and key parts of a business plan : Understand the purpose and key parts of a business plan and know how strengths, weaknesses, opportunities and threats impact a business
What is a committed fund balance in a governmental funds : What is a committed fund balance in a governmental funds balance sheet? How does it differ from a restricted fund balance?
How will the amount of revenue reported : A private citizen makes an unrestricted pledge of $5 million to a city's museum. The city is confident that the donor will fulfill her pledge. However, the cash will not be received for at least two years. How will the amount of revenue reported i..
Broad strategies following by company : Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Assume you are opening a small food outlet across the street from your ..
Compute the materials price and usage variances : Emerson produces all of its toasters in a single plant. Normal activity is 45,000 units per year. Standard overhead rates are computed based on normal activity measured in standard direct labor hour. During the year, Emerson experienced the follow..
What information is included in the governmental activites : Concerning the government-wide statement of net assets, describe what information is included in the governmental activites column, the business type activities column, and the column for the total primary government.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Comparative balance sheets for bayshore industries, inc.

Comparative balance sheets for Bayshore Industries, Inc. as of December 31 year 2 and year 1 are presented below.Prepare the cash from operations section of the statement of cash flows using the DIRECT method.

  Journalize transactions for gagon general journal

Record each of the following transactions in Gagon's general journal-1. Issued capital stock for $75,000 cash. 2. Borrowed $35,000 from a bank. Signed a note to secure the debt.

  Purpose of engagement planning

What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?

  Auditors responsibility for internal control

The Sarbanes Oxley Act of 2002 had a profound impact on management and auditors' responsibility for internal control. Please let us know how things changes for both management and auditors after the passage of Sarbanes Oxley as it relates to inter..

  Journal entry to record bond interest accrued

On August 1, 2007, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each February 1 and August 1.

  Common stock-dividend revenue-zwick company

Zwick Company bought 28,000 shares of the voting common stock of Handy Corporation in January 2006. In December, Hardy announced $200,000 net income for 2006 and declared and paid a cash dividend of $2 per share on the 200,000 shares of outstandin..

  Direct and indirect method in quoting foreign currencies

Describe the direct and indirect technique in quoting foreign currencies. Provide some examples.

  Prepare an rea diagram for freds train

Fred deals with more than one supplier and often places orders for multiple items at the same time. Fred takes inventory and places orders every Monday.

  Reviewing account audits-standard deviation

An accounting firm is trying to understand the capability of its process to review certain types of account audits. What is the percentage of audits that will take longer than 15 hours?

  Taxation of nonprofit organizations

Your local government created an agency to serve the local community in providing low income housing. That housing agency, called the Local Housing Board, is a tax exempt agency of local government and was created to receive federal funds for hous..

  Article analysis using macroeconommic indices

Conduct an analysis of recent article and provide their evaluation and outcome expectations in written paper of 1500-2500 words that discusses:

  Mca computing least squares regression estimates

Draw a scatter diagram of the airport costs. Compute the least spuares regression estimates of the variable and fixed cost components in the airport cost behavior pattern.

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