University of Baltimore
Merrick School of Business
Advanced Financial Reporting (ACCT 403)
The December 31, 2012 condensed balance sheets of Pym Corp. and its 90%-owned subsidiary,
Sy Corp., are presented in the works
September 5, 2013
Advance Financial Reporting
Chapter 16 Homework Problems
1. Which of the following is not a governmental fund?
a) Special Revenue Fund
b) Internal Service Fund
c) Capital Projects Fund
d) Debt Service Fund
2. What is the purpose of a Spe
Chapter 4 for Advance
Problem 4-1 [LO1]
What is a basic premise of the acquisition method regarding accounting for a noncontrolling
A subsidiary is an indivisible part of a business combination and should be in
entirety regardless of the degree
Use the following information to answer questions 9-11 (LO 3-3a)
On January 1, 2013, Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for
$600,000 cash. At January 1, 2013, Sedonas net assets ha
Chapter 18 Homework for Advance
Problem 18-1 [LO7]
A private not-for-profit health care organization has the following account balances:
ADVANCE ACCOUNTING CHAPTER 16
Which of the following is not a governmental fund?
Capital Projects Fund.
Internal Service Fund.
Special Revenue Fund.
Debt Service Fund.
What is the purpose of a Special Revenue Fund?
To account for gifts when only subsequen
$8 ,000 cash. Atithat date, the book value of Viagrunners was $630,000. Viagmnners was
'u g land on January 1, 2010 that had a book value of $15,000 and a market value of $40,000.
. The followi c ; balances existed for Old Guy Shoes and its wh
Chapter 17 Homework for Advance
Problem 17-1 [LO1]
A city government has obtained an asset through a capital lease. Which of the following is
true for the government-wide financial statements?
The accounting parallels that used in for-profit accounting.