Reference no: EM13863794
Write a 1000 word, APA style paper where you consider each of the following situations.
Indicate whether (and why or why not) you think that the government should account for the transactions and resources in an agency fund, a government fund, or some other type of fiduciary fund. Not all the situations have been explicitly addressed in the text. Therefore, you may have to generalize from those that have been discussed.
A city extended sewer and water lines to a recently annexed community. Per agreement with the community, the improvements are to be paid for entirely by local residents. To finance the improvements, the icty issued 10-year notes on behalf of the residents. It
assessed the residents for the amount of the debt, plus interest. The city guaranteed the notes and agreed to collect the assessments from the residents and make appropriate payments to the note holders. However, the city's role is primarily one of an intermediary. The residents, not the city, are expected to service the debt.
A state receives a federal law-enforment grant intended to assist local communities in hiring additional police officers. The federal granting agency selects the cities and counties that are to receive the awards and determines the amounts they are to receive.
The federal government, not the state, is responsible for monitoring grant compliance. The state's only responsibility is to write the checks to the cities and counties.
A state receives a federal educational grant intended to assist local school districts in hiring additional teachers.
The federal granting agency establishes the criteria that the stat is to use in determining the school districts to receive the awards and the amounts they are to receive. The district has no discretion in selecting recipients other than to apply the specified criteria.
A county collects sales taxes that it distributes among itself and the town within its jurisdiction. The taxes are levied by the county and are divided among the recipient governments in accordance with a formula set forth in the legislation that authorized the tax.
|
Write a paper on note disclosures
: The bonds are backed exclusively by the lease payments from the nursing home.
|
|
Effective interest method-how much interest expense
: On 1/1/2014 the Jackson Co. has a $40,000 debt outstanding which matures on 12/31/16. Interest which is payable on Dec. 31 of each year, was last paid on 12/31/13. Using the effective interest method, how much interest expense is recognized on the ..
|
|
Where you can add value to others or customers
: Topic - Drving for Results, Summarize where you self-handicap yourself and create obstacles in this area. Describe (with great detail) a situation where you can add value to others/customers
|
|
Revising the budgets to include all planning decisions
: Regression analysis takes into consideration only the highest and the lowest level of activities to predict cost behavior. In a breakeven scatter diagram, the loss area continues till the total costs line is below total revenues line. Revising the bu..
|
|
The federal granting agency establishes
: The federal granting agency establishes
|
|
Compute the predetermined overhead rate under current method
: Cabigas Company manufactures two products. Product C and Product D. The company estimated it would incur $167,140 in manufacturing overhead costs during the current period. Overhead currently is applied to the products on the basis of direct labor-ho..
|
|
Write paper about micromanaging
: Topic - Micromanaging, Summarize where you self-handicap yourself and create obstacles in this area. Describe your results from the SLBA and its implications for you
|
|
Account referred to as the revaluation surplus account
: Under IFRS, there exists an account referred to as the “revaluation surplus” account. What type of account is this and what is it used for? Is the normal account balance for this account a debit or credit? Can the account ever carry a balance that is..
|
|
Standard costing can used only with process costing system
: Process cost reports are prepared for each of the processes or work cells. The number of equivalent units for direct materials is the same as the number for conversion costs. In a breakeven scatter diagram, the loss area continues till the total cost..
|