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 debt service fund should include interest payable on the general obligation bonds for
Question 12
A company used the percentage-of-completion method of accounting for a four-year construction contract. Which of the following items would be used to calculate the income recognized in the second year?
Question 13
During 2004, Mitchell Corp. started a construction job with a total contract price of $ 600,000. The job was completed on