C. 26. A. B. D. The capital projects fund of Hysham completed construction of a new building. The building should be reported in the: I. government-widestatement of net assets. II. capital projects fund. A) I only B) II only C) Either I or II D) Neither I nor II 27. Which presentation method combines the componentunit's results into the primary government's financial results? $ 600,000 Proceeds from general obligation bond issue $ 2,000,000 Transfer from Cherry'sgeneral fund $ 150,000 In its 20X1 capital projects fund operating statement, Cherry should report these amounts as: Other financing sources A) Blendedpresentation B) Discrete presentation C) Combined presentation D) Consolidated presentation 28. Financing for the renovation of Cherry City's municipalpark, begun and completed during 20X1, came from the following sources: Grant from state government S 0 600,000 $2,750,000 $2,600,000 Revenues $A) Option A B) Option B C) Option C D) Option D $ $ $ $ 2,750,000 2,150,000 0 150,000

"Since you have posted multiple questions, we will provide the solution only to the first question…

Answered: A) I only B) II only C) Either I or II…

Business

Accounting

A) I only B) II only C) Either I or II D) Neither I nor II 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The capital projects fund of Plant City completed construction of a new building. The building account should be reported in the: I. capital projects fund balance sheet. II. general fund balance sheet. III. government-wide statement of net position. A) II only. B) Il only. C) I only. D) I and II only.
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From the following information you are required to prepare Statement of revenues, expenditure and changes in fund balances, other financing sources and statement of net assets 1. During the fiscal year operations, revenue from tax was estimated RO 375000 out of which 75000 has not been received 2. A state grants RO 250000 is received for the restricted purpose 3. Issued RO 150000 long term bonds by the government department 4. Expenditure on service for general fund RO 15000 Received supplies for RO 10000 out of which 6000 has been paid immediately in 5. general fund
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