test chapter 17, 18

test chapter 17, 18 - ACCT412 - Advanced Accounting...

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ACCT412 - Advanced Accounting Chapters 17-18 Spring 2005 A. Smith Name______________________________ PROBLEMS Answer the questions which are contained in each independent situation described below. Select your answers from the following lists. Fund Names Fund Classifications Agency Governmental Capital Projects Fiduciary Debt Service Proprietary Enterprise General Internal Service Investment trust Pension trust Permanent Private purpose trust Special Revenue Financial Statements Balance Sheet – Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds Statement of Net Assets – Proprietary Funds Statement of Revenues, Expenditures, and Changes in Fund Balances – Proprietary Funds Statement of Cash Flows – Proprietary Funds Statement of Fiduciary Net Assets – Fiduciary Funds Statement of Changes in Fiduciary Net Assets – Fiduciary Funds Government-wide Statement of Net Assets Government-wide Statement of Activities 1. The City Council of Elmville authorized that its parking meter receipts be used to finance the operations of its traffic court. In what fund should Elmville account for the parking meter receipts? Include the specific name of the fund and its classification. 2 pts. 2. The City of Sugarcrest operates a municipal golf course, with user fees being more than enough to cover the operating costs of the golf course. In fund should Sugarcrest account for the operations of the golf course? Include the specific name of fund and its classification. 2 pts 3. The county treasurer of Grove County collects property taxes from citizens living in the county. Every penny of these taxes is to be remitted to the cities, villages, and school districts which are contained within the boundaries of the county. In what fund should the county treasurer deposit the property tax collections? ? Include the specific name of the fund and its classification. 2 pts.
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test chapter 17, 18 - ACCT412 - Advanced Accounting...

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