This website uses cookies to ensure you have the best experience. Learn more

Worksheet F Essay

505 words - 3 pages

1. What is the distinction between expenditures and expenses as the terms are used in governmental accounting?
a. The distinction between expenditures and expenses is dependent upon GASB. Expenditures are defined as decreases in net financial resources. Expenses are defined as outflows or expirations of assets or the incurrence of liabilities during a period.

2. Using the summary table at the end of chapter 5 as well as the more specific information within the chapter, explain how and when each of these expenses/expenditures would be reported in the fund statements and the government-wide statements prepared on Dec. 31, 2012. Assume all take place within the general fund.

a) Using the accrual method your ...view middle of the document...

Your government has made payments into the plan totaling $100,000 this year.
Pension expenditure 100,000
Pension liability 100,000
This shows the payment amount into the pension fund as based on actuarial determinations not merely the amounts contributed to the plans during the year or expected to be contributed shortly thereafter.

c) In 2011 your government was involved in a law suit with a citizen. Your attorneys determined that it was probable that you would be required to pay a claim of $50,000 to that citizen when the case was settled. At the end of 2012 the case was settled and your government is required to pay a total of $75,000 to the citizen by the end of January 2013.
Claims and Judgment Expense 75,000
Cash 50,000
Liability for claims and judgments 25,000
In the next year the remaining 25,000 would be paid.

d) During 2012 your government purchased new furniture for the mayor’s office. This was appropriated in the budget for 2012 at $12,000. The actual cost paid from the general fund was $11,000.

Furniture expenditure 12,000
Accounts Payable 12,000

Furniture inventory 1,000
Fund balance – Nonspendable 1,000
e) Your government borrowed $1 million for the building of a new court building. They did this by issuing 10 year bonds at 5.5%. They sold at par and cash was received in July, 2012.
Debt service, interest – expenditure 1,000,000
Matured bonds payable 1,000,000
The interest and principle on debt is not accrued in advance of the year in which it is due. Instead it is accrued only in the period in which they are due. Since it is not due until the next year so the interest does not accrue until after the year ends.

Other assignments on Worksheet F

Asofgnaongaong Asgasgasg Asfgagsasga A Essay

1309 words - 6 pages downstream and back. The trip downstream took 12 hours. The trip back took 14 hours. What is the speed of the boat in still water? What is the speed of the current? boat: 26 mph, current: 2 mph Create your own worksheets like this one with Infinite Algebra 1. Free trial available at KutaSoftware.com ©F B2o0H1C2F KKhuJtnau wSMoQf5t0wKa4rhe2 RLYLjCw.Q c XAglAlF ArxiOg6hqtdsY wroe1sjeNrGvGeadp.N L rMVabdaeb 9w9igtTho LIwnhfwiWnmiKt1ef OAflUgqeebPr5aU H15.A -2- Worksheet by Kuta Software LLC

Visual Systems Worksheet Essay

466 words - 2 pages University of Phoenix Material Visual System Worksheet Matching __C___ Bill perceived the cover of his book was red even though the light changed in the various rooms in which he read the book. 1. ___I__ Mary damaged her cerebral cortex and now perceives the world in black, white, and grey. 2. ___B__ Phyllis wears only various shades of purple. Her clothes are many different types of purple, but she only wears

Pert Cpm

1410 words - 6 pages NOTE: Please note that the workings are provided in the Excel worksheet. PERT/CPM TECHNIQUES Task: A. Use the estimates for Company A in Table 1.1 to do each of the following: 1. Determine the expected completion time for each of the ten project activities, showing all of your work. Task Optimistic Time to Complete (weeks) Probable Time to Complete (weeks) Pessimistic Time to Complete (weeks) Expected Time to Complete (weeks) A

Sales Tracking And Customer Relations Analyses

2311 words - 10 pages : * improving the sales strategy; * improving internal efficiencies and effectiveness; and * building strong lasting relationships with its customers. Ms Holt has provided you with last year’s sales information in the “itech1005-5005 2014-05 assignment data.xlsx” file. The data needs to be analysed and visualised to help observations related to the business operation and its shortcomings. The data worksheet “Sales” contains collected information

Enginering

856 words - 4 pages . Background: We have been given the task to design a shaft to specific guidelines using inch size pillow blocks. We will perform appropriate calculations using modeling techniques and verify the design in SolidWorks FEA program. The problem is 7-5 in the book and is shown below: The problem statement: A geared industrial roll shown in the figure is driven at 300 rev/ min by force F acting on a 3-in-diamter pitch circle as shown. The roll

Finance

499 words - 2 pages , review the “Eight Steps in Calculating Your Income Taxes” section starting on page 109. Complete this worksheet by answering the following problems which are taken from the Financial Planning Case 1 on page 135 of your textbook. Financial Planning Case 1: The Johnsons Calculate Their Income Taxes. | Several years have gone by since Harry and Belinda graduated from college and started their working careers. They both earn good salaries. They

Hum115 R4 W1 Levels Steps Worksheet

649 words - 3 pages University of Phoenix Material Week 1 – Levels and Steps of Critical Thinking Worksheet Note. This is a three-part assignment. Please ensure you complete all three parts. Part 1: Critical Thinking Distribution Complete the following True/False questions about Beginning Critical Thinker, Average Critical Thinker, and Advanced Critical Thinker. Refer to pp. 13-15 in Ch. 1 of Critical Thinking in Everyday Life. 1. True

Test

1930 words - 8 pages ) | | | |(f) |Ramesh Ahuja wants to store data of his monthly expenditure over the last financial year. Which of the | | | | |Office application is most suitable for this purpose? | | | | | |1

Revolutionary France

1516 words - 7 pages University of Phoenix Material Week 5 Worksheet As you read this week’s required materials, complete this worksheet. This is a multipage assignment; double-check that you completed each page before submitting. Part I: Fill in the Blanks Fill in the blanks to complete the following sentences. Revolutionary France a. Burdened by debt from the Seven Years’ War and French support for the American

Healthy Interpersonal Relationships Worksheet

757 words - 4 pages Axia College Material Appendix F Healthy Interpersonal Relationships Worksheet Use your textbook to answer the following questions. You are not required to respond in essay format. You may use short-answer responses, including lists, to answer these questions. 1. What are the characteristics of intimate relationships? What are behavioral interdependence, need fulfillment, emotional attachment, and emotional availability? Why is each

Mental Health Worksheet

792 words - 4 pages MHF Module: Investing In Mental Health Mental Health Worksheet Part 1 Research mental health in a a country other than the United States. An example of a mental heath problem is provided below. |Example: | |According to the World Health Organization (2005) Botswana, Africa, spends only 1

Similar Documents

Johnathan Essay

310 words - 2 pages 1. A Chart is a visual representation of data in a worksheet. 2. a. The Chart will automatically updated b. The legend corresponds to category labels c. 6 3. A chart can be placed on the same worksheet as the data or on another worksheet separate from the data. 4. d. 1 e. A Pie chart is used to represent data that is a percentage of a whole. 5. To change data labels to percentages, select the

Hipaa Essay

3778 words - 16 pages “Aircraft crash” on your threat source priority list. F) Inventory Asset List. Excel Document. It is the fifth worksheet on the HIPAA COW Risk Assessment Template spreadsheet. i) Use this document while completing the Risk Management and Contingency Plan questions on the Security Questions worksheet. ii) This is an example list of assets your organization may have. iii) Update this list to include a list of the communication

Universal Studies Essay

282 words - 2 pages Associate Level Material Appendix F Reading Strategies Worksheet Identify two reading goals, one short-term and one long-term. • Long-term reading goal: • Short-term reading goal: Write a 100- to 150-word response to each of the following questions: • How do you currently approach the weekly readings in the course? The way I currently approach the weekly readings is by looking over my discussion questions and

Law And Demand Essay

332 words - 2 pages What is Gross Domestic Products? Short Answer/Worksheet 1. What was Real GDP for 2009? The real GDP is based on four quarters 2. What does GDP tell us?  is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually, GDP is expressed as a comparison to the