Test Bank for Essentials of Accounting for Governmental_5

Tham khảo tài liệu 'test bank for essentials of accounting for governmental_5', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 188 Chapter 6 10. On December 21 the company placed an order for a new computerized control switch in the amount of 1 500 to be delivered and paid in January 2013. Required You have been asked to provide financial statements for the upcoming County Board meeting for the Television Reception Improvement Fund. Part 1 Assume the County chooses to report the Television Reception Improvement Fund as a Special Revenue Fund following modified accrual basis statements. Using the Excel template provided a. Prepare journal entries recording the events above for the year ending December 31 2012. b. Post the journal entries to T-accounts. c. Prepare closing entries. d. Prepare a Statement of Revenues Expenditures and Changes in Fund Balance. e. Prepare a Balance Sheet assuming there are no restricted or committed fund net resources. Part 2 Assume the County chooses to report the Television Reception Improvement Fund as an Enterprise Fund following accrual basis statements. Using the Excel template provided a. Prepare journal entries recording the events above for the year ending December 31 2012. b. Post the journal entries to T-accounts. c. Prepare closing entries. d. Prepare a Statement of Revenues Expenses and Changes in Net Assets. e. Prepare a Statement of Net Assets assuming the bank note is related to capital asset acquisitions. The Excel template contains separate tabs for 1 special revenue fund journal entries and T-accounts 2 special revenue fund closing entries 3 special revenue fund financial statements 4 enterprise fund journal entries and T-accounts 5 enterprise fund closing entries and 6 enterprise fund financial statements. Both the T-accounts and financial statements contain accounts you will not need under either the modified accrual or accrual bases. Similarly you may not need to record some of the events depending on the basis of accounting. Continuous Problem Available on the text s Web site copley10e Chapter Seven Fiduciary Trust Funds Where

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