General capital assets should be depreciated, except for land and infrastructure assets that are reported using the "modified approach. In government-wide financial statements, for which activities is the economic resources measurement focus and accrual basis of accounting used?
Capital assets are not reported in that column b. How much interest expenditure or expense should the city recognize in its operating statements for the calendar year ? How much should the city report in its government-wide statement of net position as net investment in capital assets?
General capital assets should be depreciated, but financial statement preparers may choose not to depreciate land and infrastructure assets d.
How should the debt be reported? Which of the following is a typical reconciling item between the fund-level financial statements and the government-wide financial statements?
Both proprietary fund and general capital assets are reported in that column c. General capital assets are not required to be depreciated c.
In which set of financial statements are fiduciary-type funds reported? How much should the village recognize as property tax revenue in its government-wide statement of activities for the fiscal year ended June 30, ?
Only in the government-wide financial statements c. For both governmental and business-type activities d. Net investment in capital assets 2, Bonds payable 2, d. Only for business-type activities c.
Report neither CA nor CB in those statements. Other financing source - proceeds from bond issue 2, Bonds payable 2, All general capital assets must be depreciated b.
Some expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund-level statements b. By the end ofthe city had spent all the bond proceeds to purchase capital assets.
No adjusting entry is needed b. To prepare government-wide financial statements at December 31,what journal entry is needed regarding the debt service due on November 1, ? The transfers in and out should be reported in neither the fund operating statement nor the government-wide operating statement.
As a liability in the fund balance sheet c. The transfers in and out should be reported in both the fund operating statement and the government-wide operating statement.
If the General Fund makes a transfer to the Debt Service Fund, how should the transfer be reported in the financial statements? The transfers in and out should be reported in the fund operating statement but not in the government-wide operating statement.
Which of the following is the most accurate statement regarding the depreciation of general capital assets in the governmental activities column of the statement of activities?
However, no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets.
All general capital assets should be reported in that column d. For neither governmental nor business-type activities 2. Only for governmental activities b.
Only in the fund financial statements b. In both fund and government-wide financial statements d. Amounts reported as expenditures in the statement of activities are reported as capital assets in the fund-level statements c. As proceeds of debt in the government-wide statement of activities d.View Notes - Ives6e_TIF_ch10 from ACC at University of Texas, Rio Grande Valley.
Chapter Government-Wide Financial Statements Multiple Choice 1. To what extent should fund or fund type data%(12). Solutions for Chapter 10 Problem 3E. Problem 3E: (Multiple choice) 1. In government-wide financial statements, for which activities is depreciation reported?
a. Only for governmental activities b. Chapter Government-Wide Financial Statements. Question # Subject: General Questions c. leave the dollar value of its infrastructure assets off both the government-wide statement of net position and the governmental fund balance Chapter Government-Wide Financial Statements.
Tutorial # Posted On: 05/10 /5. Chapter 18 Multiple Choice study guide by thomsocl includes 23 questions covering vocabulary, terms and more. Quizlet flashcards, activities and games help you improve your grades. on which of the following government-wide financial statements would you find all liabilities of a state or local government: statement of net assets.
Chapter Government-Wide Financial Statements Multiple Choice 1. To what extent should fund or fund type data be displayed on the face of government-wide financial statements? Chapter 7-Multiple Choice. STUDY. PLAY. Within the government-wide financial statements, the column for Business-type activities will generally include: Corporate Finance-Chapter 31 terms.
Corporate Finance-Chapter 25 terms. Corporate Finance-Chapter 9. Features. Quizlet Live.Download