Ashford acc 380 week 4 assignment government wide statements, net assets, & journals
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Ashford acc 380 week 4 assignment government wide statements, net assets, & journals Document Transcript

  • 1. ASHFORD ACC 380 Week 4 Assignment Government-Wide Statements, Net Assets, & JournalsPLEASE DOWNLOAD HEREGovernment-Wide Statements, Net Assets, & Journals. Complete the followingactivities and submit your answers to your instructor in a Word documentformatted to proper APA specifications. Include any relevant supportingcomputations and explanations.Part One.Review the financial information pertaining to the City of South Pittsburgh inproblem 8-10 on page 257 of your text. Prepare, in journal form, worksheetadjustments for each of the situations outlined.PartTwo:Review the financial information pertaining to Southern State University inproblem 9-5 on pages 294 and 295 of your text. Prepare, in good form, aStatement of Net Assets for Southern State University as of June 30, 2012.Part Three:Review the financial transactions pertaining to the Cancer Research Center inproblem 10-8 on pages 326 and 327.1. On the books of Cancer Research Center, record the pledge on January 1 inthe temporarily restricted asset class, assuming the appropriate discount rate is5% on an annual basis. The appropriate discount factor is 4.33.2. Record the increase in the present value of the receivable in the temporarilyrestricted net asset class as of December 31.3. Record the receipt of the first $30,000 on December 31 and the payment to theresearcher. Indicate in which asset class (unrestricted, temporarily restricted)each account is recorded.