Reference no: EM131704718

Question: (Transactions involving all funds) Indicate which fund(s) would be used to record each of the following actions performed by the city, county, or state referred to in the transaction. Use the following codes: GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund EF Enterprise Fund ISF Internal Service Fund PTF Pension Trust Fund ITF Investment Trust Fund PPTF Private-Purpose Trust Fund AF Agency Fund

___ 1. The city made a contribution to the employees' retirement fund.

___ 2. Taxes that are dedicated to street repairs were collected. The ordinance establishing the tax requires a separate accounting for these resources.

___ 3. The contractors who were building a bridge were paid.

___ 4. General governmental revenues were transferred to the fund that accumulates resources to retire general long-term debt.

___ 5. The salary of the chief of police was paid.

___ 6. The central supplies fund sent out bills (covering the cost of the supplies plus overhead) for supplies provided to the Police and Fire Departments and to the city airport.

___ 7. The city received from a citizen a gift to be held in perpetuity. The investment income must be used to provide free concerts in city parks.

___ 8. Bonds were issued to finance construction of an office building.

___ 9. The Police Department purchased three police sedans, using general tax revenues.

___ 10. Sales taxes were collected by the state Tax Department. One-half of what was collected was deposited in the fund that accumulates resources to finance day-to-day operating activities, and one-half was held for remitting to other governments on whose behalf the state collects taxes.

___ 11. The city sold some of its excess office equipment. The proceeds were to be used for general city operations.

___ 12. General obligation bonds were retired, using resources accumulated in a fund used solely for that purpose.

___ 13. The county bus system, accounted for as a separate fund, sold bonds to finance a bus depot.

___ 14. The city uses a separate fund to account for its central purchasing function. Supplies were purchased by this fund.

___ 15. A citizen donated securities to the city, stipulating that the principal amount must remain intact and that the income must be spent to provide free food to the elderly at the cityoperated senior citizen centers.

___ 16. The county treasurer distributed to school districts the school districts' shares of the earnings from investments made by the county-operated investment pool.