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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?
Question 10
Todd City formally integrates budgetary accounts into its general fund.
Todd uses an internal service fund to account for the operations of its
data processing center, which provides services to Todd's other
governmental units. During the year ended December 31, 2005, Todd
received a state grant to buy a bus, and an additional grant for bus
operation in 2005. In 2005, only 90% of the capital grant was used for
the bus purchase, but 100% of the operating grant was disbursed. Todd
has incurred the following long-term obligations: General obligation
bonds issued for the water and sewer fund which will service the debt.
Revenue bonds to be repaid from admission fees collected from users of
the municipal recreation center. These bonds are expected to be paid
from enterprise funds, and secured by Todd's full faith, credit, and taxing
power as further assurance that the obligations will be paid. Todd's 2005
expenditures from the general fund include payments for structural
alterations to a firehouse and furniture for the mayor's office. In Todd's
general fund balance sheet presentation at December 31, 2005, which of
the following expenditures should be classified as fixed assets?
Question 11
On March 2, 2004, Finch City issued 10-year general obligation bonds at
face amount, with interest payable March 1 and September 1. The
proceeds were to be used to finance the construction of a civic center
over the period April 1, 2004, to March 31, 2005.During the fiscal year
ended June 30, 2004, no resources had been provided to the debt service
fund for the payment of principal and interest. On June 30, 2004, Finch's