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ACCT 567 Tutorials ACCT 567 Entire Course ACCT 567 Week 8 Final Exam • ACCT 567 Week 1 Exercises • ACCT 567 Week 2 Case Study I • ACCT 567 Week 2 Problems • ACCT 567 Week 3 Problems • ACCT 567 Week 4 Midterm Exam • ACCT 567 Week 4 Problems • ACCT 567 Week 5 Case Study • ACCT 567 Week 5 Homework • ACCT 567 Week 5 Problems • ACCT 567 Week 5 Test All • ACCT 567 Week 6 Problem 12-4 • ACCT 567 Week 7 Problems 16-3 • ACCT 567 Week 8 Final Exam • 6. (TCO E) Which of the following resource inflows would be recorded as a revenue of a debt service fund? (Points : 5) • Receipt of the premium on a new bond issue.Property taxes levied by the debt service fund for debt service purposes.Taxes collected by the General Fund and transferred to the debt service fund.Transfer of the residual equity of a capital projects fund to the debt service fund.
ACCT 567 Tutorials ACCT 567 Week 1 Exercises ACCT 567 Week 2 Case Study I • From the textbook, complete the following problems. • Chapter 1: Exercise 1–3 Chapter 2: Exercises 2–3 and 2–5 • Cash collected for the Federal Grant from the Federal Government, $ 94,000. Cash collected and transferred in as follows: • Fines and Penalties 43,000 • Licenses and Permits 164,000 • Cash collected on property taxes were as follows: Current taxes, $559,000, Delinquent Taxes, $ 41,000 and $ 22,000 of interest and penalties were collected.
ACCT 567 Tutorials ACCT 567 Week 2 Problems 3-9 and 4-4, 4-6, 4-10 ACCT 567 Week 3 Problems 5-3 and 6-5 • From the textbook, complete the following problems. • Problems 3-9 and 4-4, 4-6, 4-10 • 4. During the current year, a capital projects fund completed a new public safety building that was started in the prior year. The total cost of the project was $9,720,000. Financing for the project came from a $9,000,000 bond issue that was sold in the prior year, and from a $720,000 federal capital grant received in the current year. Current year expenditures for the project totaled $1,176,000. The full cost is attributed to the building since it was constructed on city-owned property.
ACCT 567 Tutorials ACCT 567 Week 3 Test All Questions and Answers ACCT 567 Week 4 Midterm Exam • ACCT 567 Week 3 Test All Questions and Answers • 7. (TCO E) When a government acquires general fixed assets under a capital lease agreement, how should the asset be recorded in the government-wide financial statements? (Points : 5) • As an expense when payments are made.At the inception of the lease agreement at the lesser of the present value of the minimum lease payments of the fair market value of the property.As an expenditure when payments are made.None of the above
ACCT 567 Tutorials ACCT 567 Week 4 Problems 7-3 and 7-8 ACCT 567 Week 5 Case Study City of Shipley • During the fiscal year ended September 30, 2011, the following transactions (summarized) occurred: • 1. Employees were paid $290,000 wages in cash; additional wages of $43,500 were withheld for federal income and social security taxes. The employer’s share of social security taxes amounted to $23,375. • The amount of the sales price of the stock plus an additional $ 360,000 was invested in stocks. As of the end of the fiscal year, June 30, 2012, a determination has been made that the fair value of the stocks held by the pension plan had decreased by $ 60,000; the fair value of bonds had increased by $35,000. Temporary accounts for the year were closed.
ACCT 567 Tutorials ACCT 567 Week 5 Homework Case study ACCT 567 Week 5 Problems 8-4 and 9-4 • Case 8 - 1 • a. When was CalPERS established? • b. What types of employers contribute to CalPERS?\ • c. How many individuals are served by CalPERS? • d. How many and what types of funds are administered by CalPERS? • The Village of Dover administers a defined benefit pension plan for its police and fire personnel. Employees are not required to contribute to the plan. The village received from the actuary and other sources the following information about the Public Safety Employees’ Pension Fund as of December 31, 2011.
ACCT 567 Tutorials ACCT 567 Week 5 Test All Questions and Answers ACCT 567 Week 6 Problem 12-4 • 1. • Question : • (TCO F) Any activities that produce goods or services to be provided to other departments or other governmental units would be reported in which fund? • Enterprise Fund • Internal Service Fund • Advance Fund • Agency Fund • Required • a. Which programs would be considered Type A programs and why? Type B programs? • b. Based on the information provided, which programs would you select for audit and why? • c. If you found out that a new manager with no previous experience was now in charge of Program 4, would your answer to part b change? If so how?
ACCT 567 Tutorials ACCT 567 Week 7 Problems 16 • Elizabeth College, a small private college, had the following transactions in fiscal year 2011. • 2. During the year the college received $1,891,000 cash in unrestricted private gifts, $575,200 cash in temporarily restricted grants, and $1,000,000 in securities for an endowment.
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