Title: ACCT 567 To exceed, you must read/Uophelpdotcom
1ACCT 567 To exceed, you must read/Uophelpdotcom
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2ACCT 567 Entire Course (Keller)
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- ACCT 567 Week 1 Exercises
- ACCT 567 Week 2 Case Study I
- ACCT 567 Week 2 Problems 3-9 and 4-4, 4-6, 4-10
- ACCT 567 Week 3 Problems 5-3 and 6-5
- ACCT 567 Week 4 Midterm Exam
- ACCT 567 Week 4 Problems 7-3 and 7-8
- ACCT 567 Week 5 Case Study City of Shipley
- ACCT 567 Week 5 Homework Case study
- ACCT 567 Week 5 Problems 8-4 and 9-4
- ACCT 567 Week 5 Test All Questions and Answers
- ACCT 567 Week 6 Problem 12-4
- ACCT 567 Week 7 Problems 16-3 and 17-6
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3ACCT 567 Week 1 Exercises (Keller)
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- From the textbook, complete the following
problems. - Chapter 1 Exercise 13 Chapter 2 Exercises 23
and 25Â - Â
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4ACCT 567 Week 2 Case Study I (Keller)
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- ACCT567 Case Study I (Week 2)
- The General Fund of Middleville has presented you
with the following trial balance as of June 30,
2011. - Debits Credits
- Cash 40,000
- Taxes Receivable- Delinquent 142,000
- Estimated Uncollectible Taxes- Delinquent 9,100
- Interest and Penalties Receivable 32,000
- Vouchers Payable 24,000
- Budgetary Fund Balance-Reserve for Encumbrances
10,200 - Fund Balance _________ 170,700
- 214,000 214,000
- The information that is being presented to you
pertains to the transactions for the city of
Middleville for the fiscal year ended June 30,
2012. - The following budget was adopted by the city
council - Â
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5ACCT 567 Week 2 Problems 3-9 and 4-4, 4-6, 4-10
(Keller)
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- From the textbook, complete the following
problems. - Problems 3-9 and 4-4, 4-6, 4-10Â
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6ACCT 567 Week 3 Problems 5-3 and 6-5 (Keller)
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- Make all necessary entries in the appropriate
governmental fund general journal and the
government-wide governmental activities general
journal for each of the following transactions
entered into by the City of Ford ache. - 1. The city received a donation of land that is
to be used by Parks and Recreation for a park. At
the time of the donation, the land had a fair
value of 5,200,000 and was recorded on the
donors books at a historical cost of 4,500,000. - 2. The Public Works Department sold machinery
with a historical cost of 35,100 and accumulated
depreciation of 28,700 for 6,400. The machinery
had originally been purchased with special
revenue funds. - 3. A car was leased for the mayors use. Since
the term of the lease exceeded 75 percent of the
useful life of the car, the lease was
capitalized. The first payment was 550 and the
present value of the remaining lease payments was
30,000. - Â
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7ACCT 567 Week 3 Test All Questions and Answers
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- ACCT 567 Week 3 Test All Questions and Answers
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8ACCT 567 Week 4 Midterm Exam (Keller)
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- 1. (TCOs A and B) Fiduciary funds are to use
which of the following measurement and basis of
accounting? (Points 5) - Economic resource measurement focus and accrual
basis of accounting.Current financial resources
measurement focus and accrual basis of
accounting.Economic resources measurement focus
and modified accrual basis of accounting.None of
the above, the fiduciary funds have no revenues. - 2. (TCOs A and B) Funds other than the General
Fund are required to be considered to be a major
fund when (Points 5) - (A) Total assets, liabilities, revenues, or
expenditures/expenses of that fund constitute 10
percent of either the governmental or enterprise
category.(B) Total assets, liabilities,
revenues, or expenditures/expenses of that fund
are at least 5 percent of the total of the
governmental and enterprise category.The
conditions of either A or B exist.The conditions
of both A and B exist. - Â
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9ACCT 567 Week 4 Problems 7-3 and 7-8 (Keller)
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- During the fiscal year ended September 30, 2011,
the following transactions (summarized) occurred - 1. Employees were paid 290,000 wages in cash
additional wages of 43,500 were withheld for
federal income and social security taxes. The
employers share of social security taxes
amounted to 23,375. - 2. Cash remitted to the federal government during
the year for withholding taxes and social
security taxes amounted to 65,500. - 3. Utility bills received from the Town of
Fredericksburgs Utility Fund during the year
amounted to 23,500. - 4. Office expenses paid in cash during the year
amounted to 10,500. - 5. Service supplies purchased on account during
the year totaled 157,500. - 6. Parts and supplies used during the year
totaled 152,300 (at cost). - 7. Charges to departments during the fiscal year
were as follows - Â
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10ACCT 567 Week 5 Case Study City of Shipley
(Keller)
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- The City of Shipley maintains an Employee
Retirement Fund a single-employer, defined
benefit plan that provides annuity and disability
benefits. The fund is financed by a process that
makes actuarially determined contributions from
the citys General Fund and by contributions that
are made by the employees. The General Fund is
handling the administration of the retirement
fund and it does not have any administrative
expenses. The Statement of Net Assets for the
Employees Retirement Fund as of July 1, 2011 is
shown below - City of Shipley
- Employees Retirement Fund
- Statement of Net Assets
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11ACCT 567 Week 5 Homework Case study (Keller)
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- Case 8 - 1
- a. When was CalPERS established?
- b. What types of employers contribute to
CalPERS?\ - c. How many individuals are served by CalPERS?
- d. How many and what types of funds are
administered by CalPERS? - e. For the most recent reporting period, what is
the value of total fiduciary assets? - f. For the most recent reporting period, what was
the change in pension fund net assets? - g. What are the funded ratios from the schedule
of funding progress and what do the funded ratios
tell you? - h. What is the reporting relationship between
CalPERS and the State of California? - Â
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12ACCT 567 Week 5 Problems 8-4 and 9-4 (Keller)
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- The county collector of Lincoln County is
responsible for collecting all property taxes
levied by funds and governments within the
boundaries of the county. To reimburse the county
for estimated administrative expenses of
operating the tax agency fund, the agency fund
deducts 1 percent from the collections for the
town, the school district, and the townships. The
total amount deducted is added to the collections
for the county and remitted to the Lincoln County
General Fund. - The Village of Dover administers a defined
benefit pension plan for its police and fire
personnel. Employees are not required to
contribute to the plan. The village received from
the actuary and other sources the following
information about the Public Safety Employees
Pension Fund as of December 31, 2011. - Â
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13ACCT 567 Week 5 Test All Questions and Answers
(Keller)
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- 1.
- Question
- (TCO F) Any activities that produce goods or
services to be provided to other departments or
other governmental units would be reported in
which fund? - Enterprise Fund
- Internal Service Fund
- Advance Fund
- Agency Fund
- 2.
- Question
- (TCO F) Government units use which fund type to
account for services provided to the general
public on a user-fee basis? - General Fund
- Enterprise Fund
- Internal Service Fund
- Permanent Fund
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14ACCT 567 Week 6 Problem 12-4 (Keller)
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- Quad-States Community Service Agency expended
federal awards during the most recent fiscal year
in the following amounts for the programs shown - Additional information indicates that Programs 4
and 10 were audited as major programs in each of
the two preceding fiscal years, with no audit
findings reported. - Required
- a. Which programs would be considered Type A
programs and why? Type B programs? - b. Based on the information provided, which
programs would you select for audit and why? - c. If you found out that a new manageÂ
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15ACCT 567 Week 7 Problems 16-3 and 17-6 (Keller)
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- Elizabeth College, a small private college, had
the following transactions in fiscal year 2011. - 1. Billings for tuition and fees totaled
5,600,000. Tuition waivers and scholarships of
61,500 were granted. Students received tuition
refunds of 101,670. - 2. During the year the college received
1,891,000 cash in unrestricted private gifts,
575,200 cash in temporarily restricted grants,
and 1,000,000 in securities for an endowment. - 3. A pledge campaign generated 626,000 in
unrestricted pledges, payable in fiscal year
2012. - 4. Auxiliary enterprises provided goods and
services that generated 94,370 in cash. - 5. Collections of tuition receivable totaled
5,380,000. - 6. Unrestricted cash of 1,000,000 was invested.
- 7. The college purchased computer equipment at a
cost of 10,580. - 8. During the year the following expenses were
paid - Â
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16ACCT 567 Week 8 Final Exams (Keller)
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- 1. (TCO A) on what should the government-wide
financial statements report? (Points 5) - Net position and results of the financial
operations of the government as a
whole.Budgetary ComplianceThe cost of
government servicesFiscal accountability - 2. (TCO B) According to GASB standards, when
should transfers be recognized? (Points 5) - When earned.When collected in cash.When
authorized by the budget ordinance.In the period
the interfund receivable and payable arise. - 3. (TCO C) Comparisons of budgeted versus actual
revenues and expenditures are a requirement of
which of the following situations? (Points 5) - Â
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17ACCT 567 To exceed, you must read/Uophelpdotcom
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