This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A city has a long-term general government liability for compensated absences of 700,000 at the ... (Read 267 times)

tfester

  • Hero Member
  • *****
  • Posts: 534
on: Jul 5, 2018
A city has a long-term general government liability for compensated absences of 700,000 at the beginning of the year and 650,000 at the end of the year.
 
  What adjustment is needed to the fund balance to reconcile the governmental funds balance sheet information to net position for governmental activities in the government-wide statement?
  A. (650,000).
  B. (50,000).
  C. 50,000.
  D. 700,000.

Question 2

A government has 1,000,000 of 6, 10-year general obligation bonds outstanding. The bonds were issued on August 15, 20X6 to finance construction of a general capital asset. Interest is payable semiannually on February 15 and August 15 .
 
  What is the maximum amount of interest expenditures that the government would be permitted to report on the bonds for 20X6?
  A. 0.
  B. 22,500.
  C. 30,000.
  D. 60,000.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Koolkid240

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

A


tfester

  • Hero Member
  • *****
  • Posts: 534
Reply #2 on: Jul 5, 2018
Correct answers!


Koolkid240

  • Sr. Member
  • ****
  • Posts: 357
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long
General structure of an amino acid General structure of an amino acid
Long-wattled Umbrellabird Long-wattled Umbrellabird
Long-tailed Widowbird Long-tailed Widowbird
When young infants hold objects for a long period of time they eventually become habituated to them. When young infants hold objects for a long period of time they eventually become habituated to them.
Long-wave energy flux is emitted from Earth Long-wave energy flux is emitted from Earth
Video: Introduction to Eating Disorders

For a complete list of videos, visit our video library