What is the basic criterion used to determine the reporting entity for a governmental unit ?
Question 5
State University received two contributions during the year that must be used to provide scholarships . Contribution A for $ 10,000 was collected during the year , and $ 8,000 was spent on scholarships . Contribution B is a pledge for $ 30,000 to be received next fiscal year . What amount of contribution revenue should the university report in its statement of activities ?
Question 6
On January 2 , City of Walton issued $ 500,000 , 10-year , 7 % general obligation bonds . Interest is payable annually , beginning January 2 of the following year . What amount of bond interest is Walton required to report in the statement of revenue , expenditures , and changes in fund balance of its governmental funds at the close of this fiscal year , September 30 ?
Question 7
Hospital , Inc ., a not-for-profit organization with no governmental affiliation , reported the following in its accounts for the current year ended December 31 : What amount would the hospital report as net patient service revenue in its statement of operations for the current year ended December 31 ?
Question 8 The encumbrance account of a governmental unit is debited when Question 9
The following revenues were among those reported by Ariba Township in 2005 : What amount of the foregoing revenues should be accounted for in Ariba ' s governmental-type funds ?