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suppose that a local government's accounting procedures stipulate that all revenue and operating transfers shall be accounted for on the modified...

suppose that a local government's accounting procedures stipulate that all revenue and operating transfers shall be accounted for on the modified accrual basis. Address how each of the following current-year transactions should be accounted for under that method:

Receipt during the current year of refund of prior year's expenditures
Collection of traffic fines
Charge to a special revenue fund for supplies transferred to it at a cost
Collection of charges for services
Remittance to debt service fund of collections of taxes for debt service

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Accounting-8235256.doc

Suppose that a local government's accounting procedures stipulate that all revenue
and operating transfers shall be accounted for on the modified accrual basis.
Address how each of the following...

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