Solution manual for Essentials of Accounting for

Solution Manual For Essentials Of Accounting For-Free PDF

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B THE GOVERNMENT WIDE FINANCIAL STATEMENTS ARE THE STATEMENT OF NET. POSITION AND THE STATEMENT OF ACTIVITIES GOVERNMENT WIDE STATEMENTS ARE. PRESENTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL. BASIS OF ACCOUNTING, C THE GOVERNMENTAL FUND STATEMENTS ARE THE BALANCE SHEET AND THE. STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES. GOVERNMENTAL FUND STATEMENTS ARE PRESENTED USING THE CURRENT. FINANCIAL RESOURCES MEASUREMENT FOCUS AND MODIFIED ACCRUAL BASIS OF. ACCOUNTING, D THE PROPRIETARY FUND STATEMENTS ARE THE STATEMENT OF NET POSITION. OR BALANCE SHEET STATEMENT OF REVENUES EXPENSES AND CHANGES IN. FUND NET POSITION AND THE STATEMENT OF CASH FLOWS THE PROPRIETARY. FUND STATEMENTS ARE PREPARED USING THE ECONOMIC RESOURCES. MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. E THE FIDUCIARY FUND STATEMENTS ARE THE STATEMENT OF FIDUCIARY NET. POSITION AND THE STATEMENT OF CHANGES IN FIDUCIARY NET POSITION. FIDUCIARY FUND STATEMENTS ARE PREPARED USING THE ECONOMIC RESOURCES. MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. F MANAGEMENT S DISCUSSION AND ANALYSIS MD A IS CONSIDERED TO BE. REQUIRED SUPPLEMENTARY INFORMATION RSI AND IS PRESENTED IN THE. FINANCIAL SECTION AFTER THE AUDITOR S REPORT THE REMAINDER OF RSI IS. GENERALLY PRESENTED AFTER THE NOTES TO THE FINANCIAL STATEMENTS AND. INCLUDES A BUDGETARY COMPARISON SCHEDULES B INFORMATION REGARDING. INFRASTRUCTURE ASSETS WHEN USING THE MODIFIED APPROACH C SCHEDULES. REQUIRED FOR DEFINED BENEFIT PENSION PLANS AND D INFORMATION REQUIRED. FOR EXTERNAL FINANCING POOLS, Chapter 02 Overview of Financial Reporting for State and Local Governments. 2 4 THE GENERAL FUND IS ALWAYS CONSIDERED A MAJOR FUND OTHER GOVERNMENTAL. FUNDS ARE CONSIDERED MAJOR WHEN BOTH OF THE FOLLOWING CONDITIONS EXIST. A TOTAL ASSETS LIABILITIES REVENUES OR EXPENDITURES OF THAT INDIVIDUAL. GOVERNMENTAL FUND CONSTITUTE 10 PERCENT OF THE TOTAL FOR THE. GOVERNMENTAL FUNDS CATEGORY AND B TOTAL ASSETS LIABILITIES REVENUES OR. EXPENDITURES OF THAT INDIVIDUAL GOVERNMENTAL OR ENTERPRISE FUND ARE 5. PERCENT OF THE TOTAL OF THE GOVERNMENTAL AND ENTERPRISE CATEGORIES. COMBINED ADDITIONALLY A GOVERNMENT MAY DESIGNATE ANY FUND MAJOR IF. REPORTING THAT FUND SEPARATELY WOULD BE USEFUL WHEN APPLYING THESE. RULES DEFERRED OUTFLOWS OF RESOURCES ARE INCLUDED WITH ASSETS AND. DEFERRED INFLOWS ARE INCLUDED WITH LIABILITIES, AN ENTERPRISE FUND IS CONSIDERED MAJOR IF A ASSETS LIABILITIES REVENUES. OR EXPENSES ARE 10 PERCENT OR MORE OF THE TOTAL FOR ALL ENTERPRISE FUNDS. AND B ITS ASSETS LIABILITIES REVENUES OR EXPENSES ARE 5 PERCENT OR MORE OF. THE TOTAL OF THE GOVERNMENTAL AND ENTERPRISE CATEGORIES COMBINED WHEN. APPLYING THESE RULES DEFERRED OUTFLOWS OF RESOURCES ARE INCLUDED WITH. ASSETS AND DEFERRED INFLOWS ARE INCLUDED WITH LIABILITIES. 2 5 SEVERAL DIFFERENCES EXIST BETWEEN THE GASB FORMAT CASH FLOW STATEMENT. AND THE FASB FORMAT REQUIRED OF COMMERCIAL BUSINESSES. 1 GASB REQUIRES GOVERNMENTS TO PREPARE CASH FLOWS FROM OPERATING. ACTIVITIES ON THE DIRECT METHOD, 2 THE RECONCILIATION OF INCOME TO CASH FLOWS FROM OPERATING ACTIVITIES.
OF THE PROPRIETARY FUND WHICH APPEARS IN THE BOTTOM SECTION OF THE. STATEMENT BEGINS WITH OPERATING INCOME NOT NET INCOME OR TOTAL. CHANGE IN NET POSITION, 3 THE STATEMENT HAS FOUR SECTIONS RATHER THAN THE THREE OBSERVED IN. FASB FORMAT STATEMENTS THESE INCLUDE, OPERATING ACTIVITIES ARE THOSE ASSOCIATED WITH OPERATING INCOME AS A. RESULT CASH FLOWS FROM INTEREST EXPENSE INTEREST REVENUE AND. INVESTMENT INCOME DO NOT APPEAR IN THE OPERATING ACTIVITIES SECTION. NONCAPITAL RELATED FINANCING ACTIVITIES INVOLVE THE BORROWING AND. PAYMENT INCLUDING INTEREST OF LOANS FOR PURPOSES OTHER THAN. FINANCING CAPITAL ADDITIONS CHIEFLY BORROWING FOR OPERATIONS. CAPITAL AND RELATED FINANCING INCLUDE GRANTS AND DEBT TRANSACTIONS. INCLUDING INTEREST USED TO FINANCE CAPITAL ADDITIONS. INVESTING ACTIVITIES INVOLVE THE ACQUISITION AND SALE OF INVESTMENTS AS. WELL AS CASH RECEIVED FROM INVESTMENT INCOME, Chapter 02 Overview of Financial Reporting for State and Local Governments. 2 6 THE DIFFERENCE BETWEEN ASSETS AND LIABILITIES IS CALLED NET POSITION AND IS. REPORTED IN THREE CATEGORIES, NET INVESTMENT IN CAPITAL ASSETS IS COMPUTED BY TAKING THE CAPITAL ASSETS. LESS ACCUMULATED DEPRECIATION AND DEDUCTING OUTSTANDING DEBT THAT IS. RELATED TO THE FINANCING OF CAPITAL ASSETS LIABILITIES INCURRED TO FINANCE. OPERATIONS INCLUDING LONG TERM LIABILITIES FOR COMPENSATED ABSENCES OR. EMPLOYEE BENEFITS WOULD NOT BE DEDUCTED, RESTRICTED NET POSITION INCLUDE RESOURCES THAT ARE RESTRICTED BY A.
EXTERNAL PARTIES INCLUDING CREDITORS GRANTORS CONTRIBUTORS OR BY LAWS. OR REGULATIONS OF OTHER GOVERNMENTS OR 2 LAWS OR CONSTITUTIONAL. PROVISIONS OF THE REPORTING GOVERNMENT, THE REMAINING AMOUNT UNRESTRICTED NET POSITION IS A PLUG FIGURE THAT. IS DETERMINED BY DEDUCTING THE BALANCES OF THE OTHER TWO CATEGORIES FROM. THE OVERALL EXCESS OF ASSETS OVER LIABILITIES, Chapter 02 Overview of Financial Reporting for State and Local Governments. CITY OF SOUTHERN SPRINGS,STATEMENT OF NET POSITION. APRIL 30 2017,GOVERNMENTAL BUSINESS TYPE,ACTIVITIES ACTIVITIES TOTAL. CASH AND CASH EQUIVALENTS 3 850 000 880 000 4 730 000. RECEIVABLES 650 000 1 330 000 1 980 000,INVENTORIES 520 000 520 000.
CAPITAL ASSETS NET 10 600 000 11 350 000 21 950 000. TOTAL ASSETS 15 100 000 14 080 000 29 180 000,LIABILITIES. ACCOUNTS P AYABLE 650 000 659 000 1 309 000, NONCURRENT LIABILITIES 5 450 000 3 210 000 8 660 000. TOTAL LIABILITIES 6 100 000 3 869 000 9 969 000,NET POSITION. NET INVESTMENT IN CAPITAL,ASSETS 5 150 000 8 140 000 13 290 000. RESTRICTED FOR DEBT SERVICE 754 000 223 000 977 000. UNRESTRICTED 3 096 000 1 848 000 4 944 000, TOTAL NET POSITION 9 000 000 10 211 000 19 211 000.
Chapter 02 Overview of Financial Reporting for State and Local Governments. 2 8 CITY OF NORTHERN PINES,STATEMENT OF ACTIVITIES. FOR THE YEAR ENDED JUNE 30 2017, PROGRAM REVENUES NET EXPENSE REVENUE AND CHANGE IN NET POSITION. C HARGES FOR OPERATING GOVERNMENTAL BUSINESS TYPE, FUNCTIONS PROGRAMS EXPENSES SERVICES GRANTS ACTIVITIES ACTIVITIES TOTAL. GOVERNMENTAL ACTIVITIES, GENERAL GOVERNMENT 9 700 000 1 110 000 8 590 000 8 590 000. PUBLIC SAFETY 23 000 000 1 210 000 698 000 21 092 000 21 092 000. PUBLIC WORKS 12 190 000 12 190 000 12 190 000, HEALTH AND SANITATION 6 210 000 2 555 000 1 210 000 2 445 000 2 445 000.
CULTURE AND RECREATION 4 198 000 2 198 000 2 000 000 2 000 000. INTEREST ON LONG TERM DEBT 1 021 000 1 021 000 1 021 000. 47 338 000 47 338 000, TOTAL GOVERNMENTAL ACTIVITIES 56 319 000 7 073 000 1 908 000. BUSINESS TYPE ACTIVITIES, WATER AND SEWER SYSTEM 11 550 000 12 678 000 1 128 000 1 028 000. PARKING SYSTEM 419 000 298 000 121 000 1 21 000, TOTAL BUSINESS TYPE ACTIVITIES 11 969 000 12 976 000 1 007 000 1 007 000. TOTAL PRIMARY GOVERNMENT 68 288 000 20 049 000 1 908 000 47 338 000 1 007 000 46 331 000. GENERAL REVENUES,PROPERTY TAXES 27 112 000 27 112 000. SALES TAXES 20 698 000 20 698 000,INVESTMENT EARNINGS 319 000 319 000.
SPECIAL ITEM GAIN ON SALE OF LAND 1 250 000 1 250 000. TRANSFERS 888 000 888 000,TOTAL GENERAL REVENUES, SPECIAL ITEMS AND TRANSFERS 48 172 000 1 207 000 49 379 000. CHANGE IN NET POSITION 834 000 2 214 000 3 048 000. NET POSITION BEGINNING OF YEAR 11 422 000 22 333 000 33 755 000. NET POSITION END OF YEAR 12 256 000 24 547 000 36 803 000. Chapter 02 Overview of Financial Reporting for State and Local Governments. CITY OF EASTERN SHORES GENERAL FUND,STATEMENTS OF REVENUES EXPENDITURES AND. CHANGES IN FUND BALANCE FOR THE YEAR,ENDED SEPTEMBER 30 2017. PROPERTY TAXES 27 020 000,SALES TAXES 13 316 000,FEES AND FINES 1 324 000. LICENSES AND PERMITS 1 721 000,INTERGOVERNMENTAL REVENUES 2 368 000.
INVESTMENT EARNINGS 654 000,TOTAL REVENUES 46 403 000. EXPENDITURES,GENERAL GOVERNMENT 11 725 000,PUBLIC SAFETY 24 444 000. PUBLIC WORKS 6 211 000,HEALTH AND SANITATION 1 163 000. CULTURE AND RECREATION 2 154 000,TOTAL EXPENDITURES 45 697 000. EXCESS OF REVENUES OVER EXPENDITURES 706 000,OTHER FINANCING SOURCES USES.
TRANSFER TO CAPITAL PROJECT FUND 1 119 000,TOTAL OTHER FINANCING SOURCES USES 1 119 000. SPECIAL ITEM PROCEEDS FROM SALE OF LAND 821 000,NET CHANGE IN FUND BALANCE 408 000. FUND BALANCE BEGINNING OF YEAR 1 812 000,FUND BALANCE END OF YEAR 2 220 000. Chapter 02 Overview of Financial Reporting for State and Local Governments. CITY OF WESTERN SANDS,WATER AND SEWER FUND,STATEMENT OF REVENUES EXPENSES. AND CHANGES IN FUND NET POSITION,YEAR ENDED DECEMBER 31 2017.
OPERATING REVENUES,CHARGES FOR SERVICES 18 087 000. OPERATING EXPENSES,PERSONNEL SERVICES 6 177 000,CONTRACTUAL SERVICES 2 995 000. UTILITIES 888 000,REPAIRS AND MAINTENANCE 1 992 000. DEPRECIATION 5 422 000,TOTAL OPERATING EXPENSES 17 474 000. OPERATING INCOME 613 000,NONOPERATING REVENUES EXPENSES.
INTEREST REVENUE 29 000,STATE AID 100 000,INTEREST EXPENSE 434 000. TOTAL NONOPERATING REVENUES AND EXPENSES 305 000,INCOME LOSS BEFORE CONTRIBUTIONS AND 308 000. CAPITAL CONTRIBUTIONS 1 632 000,TRANSFER TO GENERAL FUND 365 000. CHANGE IN NET POSITION 1 575 000,NET POSITION BEGINNING OF YEAR 2 700 000. NET POSITION END OF YEAR 4 275 000, Chapter 02 Overview of Financial Reporting for State and Local Governments.
INFORMATION ITEM STATEMENT AMOUNT, A TOTAL CAPITAL OUTLAY FOR THE STATEMENT OF REVENUES. COURTHOUSE RENOVATION EXPENDITURES CHANGES IN FUND. BALANCE GOVERNMENTAL FUNDS 10 924 818, B TOTAL CASH PAID FOR CAPITAL ADDITIONS STATEMENT OF CASH FLOWS. FOR THE SOLID WASTE FUND PROPRIETARY FUNDS 456 179. C INTEREST PAID NOT EXPENSE ON STATEMENT OF REVENUES. GENERAL LONG TERM DEBT EXPENDITURES CHANGES IN FUND 924 818. BALANCE GOVERNMENTAL FUNDS, D INTEREST PAID NOT EXPENSE ON WATER STATEMENT OF CASH FLOWS. DEPARTMENT DEBT PROPRIETARY FUNDS 535 567, E CAPITAL ASSET NET FOR THE STATEMENT OF NET POSITION. GOVERNMENT S COMPONENT UNITS GOVERNMENT WIDE 11 170 900. F CONTRIBUTIONS RECEIVED FOR USE BY THE STATEMENT OF CHANGES IN FIDUCIARY. PRIVATE PURPOSE TRUST NET POSITION 100 000,G NONCURRENT LIABILITIES ASSOCIATED.
WITH GOVERNMENTAL ACTIVITIES THAT STATEMENT OF NET POSITION 39 834 882. ARE DUE IN MORE THAN ONE YEAR GOVERNMENT WIDE, H NONCASH CONTRIBUTIONS OF CAPITAL STATEMENT OF CASH FLOWS. ASSETS FOR THE WATER DEPARTMENT PROPRIETARY FUNDS 3 085 946. ALSO STATEMENT OF REVENUES,EXPENSES AND CHANGES IN FUND NET. POSITION PROPRIETARY FUNDS,INFORMATION ITEM STATEMENTS AMOUNT. A TOTAL FUND BALANCE OF THE STATEMENT OF REVENUES BALANCE SHEET. SPECIAL REVENUE FUND EXPENDITURES CHANGES GOVERNMENTAL 572 014. IN FUND BALANCE FUNDS,GOVERNMENTAL FUNDS, B NET POSITION AVAILABLE FOR STATEMENT OF CHANGES IN STATEMENT OF. EMPLOYEE PENSIONS FIDUCIARY NET POSITION FIDUCIARY NET 10 983 590. C OPERATING INCOME FOR THE STATEMENT OF REVENUES STATEMENT OF. INTERNAL SERVICE FUNDS EXPENSES AND CHANGES IN CASH FLOWS 23 822. FUND NET POSITION PROPRIETARY,PROPRIETARY FUNDS FUNDS.
D NET POSITION OF THE PRIMARY STATEMENT OF NET STATEMENT OF. GOVERNMENT POSITION GOVERNMENT ACTIVITIES 86 285 455. WIDE GOVERNMENT,CONTINUOUS PROBLEM CHAPTER 13,RATIO FORMULA CALCULATIONS CITY OF MONROE. 1 FINANCIAL POSITION GOVERNMENT Unrestricted Net Position 1 805 410. WIDE GOVERNMENTAL ACTIVITIES Total Expenses Governmental 15 355 560 11 8. Activities, 2 FINANCIAL POSITION GENERAL Unassigned Fund Balance 899 750. FUND Total Expenditures Other Financing 9 215 100 1 662 000 8 3. 3 QUICK RATIO GOVERNMENT WIDE Cash Current Investments 692 720 259 000. GOVERNMENTAL ACTIVITIES Current Liabilities 346 200 328 000 1 41. 4 LEVERAGE GOVERNMENT WIDE Total Liabilities 18 665 500. PRIMARY GOVERNMENT Total Assets 42 749 310 0 44, 5 DEBT SERVICE COVERAGE Cash Flows from Operations 276 200. ENTERPRISE FUNDS Interest Paid Payments of Principal 145 500 0 1 90 TIMES. 6 DEBT SERVICE TO TOTAL Principal Interest Expenditure 800 000 514 000. EXPENDITURES GOVERNMENTAL Total Expenditures General and 9 215 100 1 154 000 12 5. FUND BASIS Debt Service Fund 160 000, 7 DEBT PER CAPITA GOVERNMENT Total Liabilities 18 665 500. WIDE PRIMARY GOVERNMENT Population 30 000 622, 8 DEBT TO ASSESSED VALUE OF Total Liabilities 18 665 500.
PROPERTY GOVERNMENT WIDE Assessed Value of Property 350 000 000 5 3. PRIMARY GOVERNMENT,CONTINUOUS PROBLEM CHAPTER 13,RATIO FORMULA CALCULATIONS CITY OF MONROE. 1 FINANCIAL POSITION GOVERNMENT Unrestricted Net Position. WIDE GOVERNMENTAL ACTIVITIES Total Expenses Governmental. Activities, 2 FINANCIAL POSITION GENERAL Unassigned Fund Balance. FUND Total Expenditures Other Financing, 3 QUICK RATIO GOVERNMENT WIDE Cash Current Investments. GOVERNMENTAL ACTIVITIES Current Liabilities,4 LEVERAGE GOVERNMENT WIDE Total Liabilities. PRIMARY GOVERNMENT Total Assets, 5 DEBT SERVICE COVERAGE Cash Flows from Operations.
ENTERPRISE FUNDS Interest Paid Payments of Principal. 6 DEBT SERVICE TO TOTAL Principal Interest Expenditure. EXPENDITURES GOVERNMENTAL Total Expenditures General and. FUND BASIS Debt Service Fund,7 DEBT PER CAPITA GOVERNMENT Total Liabilities. WIDE PRIMARY GOVERNMENT Population,8 DEBT TO ASSESSED VALUE OF Total Liabilities. PROPERTY GOVERNMENT WIDE Assessed Value of Property. primary government is a state government general purpose local government or special purpose government a n example of a primary government would be any state municipality or county general purpose governments and any special purpose government that meets the certain criteria c a component unit is a legally separate organization for

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