ACC 577 OUTLET Learn by Doing/acc577outlet.com ACC 577 OUTLET Learn by Doing/acc577outlet.com | Page 23

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?
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