Chap018-baker 43

Chap018-baker 43 - Chapter 18 - Governmental Entities:...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-43 P18-22 (continued) Step 2: 5 percent criterion tests The 5 percent criterion test is applied only to those funds that met the 10 percent criterion test. (For each of the four 5 percent tests, the denominator is the combined amount of that item from the governmental funds plus the enterprise funds.) Computation of denominators for 5 percent governmental and enterprise fund types: Assets Liabilities Revenues Expenditures/ Expenses Governmental fund types $2,112,400 $ 951,300 $5,790,000 $5,659,800 Enterprise fund types 3,996,000 2,900,700 618,000 543,000 Combined $6,108,400 $3,852,000 $6,408,000 $6,202,800 5 percent criterion tests: Assets Liabilities Revenues Expenditures/ Expenses Percent of combined amount of: $6,108,400 $3,852,000 $6,408,000 $6,202,800 Governmental fund type: General fund – is always a major fund Capital Project – Library 7.37% (a) ** 0.99% 7.18% ** 6.74% ** Permanent
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.

Ask a homework question - tutors are online