Ashford ACC630 Week 4 Assignment Latest
ACC630 Managerial Accounting
Week 4 Assignment
Problems and Exercises [CLO: 1]. Due by Day 7. Complete the following problems and exercises, showing all work and submit in the classroom.
1. Identification of Fiduciary Funds Following is a list of fund names and descriptions from comprehensive annual financial reports (CAFRs). Indicate which of the following are fiduciary funds. If not a fiduciary fund, identify which type of fund should be used to account for the activities and explain why that fund is most appropriate.
2. Investment Trust Fund The Albertville City Council decided to pool the investments of its General Fund with Albertville Schools and Richwood Township in an investment pool to be managed by the city. Each of the pool participants had reported its investments at fair value as of the end of 2016. At the date of creation of the pool, February 15, 2017, the fair value of the investments of each pool participant was as follows:
3. Comprehensive Set of Transactions The City of Lynnwood was recently incorporated and had the following transactions for the fiscal year ended December 31, 2017.
4. Net Position Classifications Section A provides a list of transactions or events that occurred during the year, followed by Section B, a list of the possible effects each transaction or event has on adjusting net position accounts at year-end, assuming that all temporary accounts have already been closed to the account Net Position – Unrestricted.
5. Change in Net Position of Governmental Activities You have been provided with the following information concerning operating activity for Annette County. For the year ended June 30, 2017, the net change in total governmental fund balances was $(289,200), and the change in net position of governmental activities was $194,300. During the year, Annette issued $2,000,000 in general obligation bonds at a premium of 101. The bonds are to be used for a construction project. The county acquired $2,750,000 in capital assets and sold capital assets with a book value of $563,000 for $570,900. At the beginning of the period accrued liabilities were $470,000 and at the end of the period they totaled $494,000. Depreciation on capital assets totaled $595,000. Revenue accrued for the period but not available for use totaled $364,000.
Having Trouble Meeting Your Deadline?
Get your assignment on Ashford ACC630 Week 4 Assignment Latest completed on time. avoid delay and – ORDER NOW
