Multiple cholce [AICPA adapted] 1. fise following revecues were among those reported by Acvida fownship in ao14: What amount of the forgoing revesues should be acosuntod for in Arvida's goemmental funas? a 58,140,000 b s6,100,000 e sc,040,000 d s8,000,000 2. Taylor Ciy issued the tollowing long-4erm obigations: Revenae bouks to be repaid from atmision fees collected frem users of the city swimming peel 51.000000 Ocheral obligation bends inusd fio the city water and sewer fund that will service the debt 51,sin,000 Athough these bonds are expected to be paid tom enterprise funds, the ful tath and credi of the city has been pledged as further asfurance that the obligations wil be paid. What anount of these bonds should be accourtad lor in the peopretary fundis? a $0 b $1,000,000 e s1,000,000 d s2,800,000 3. The following proceeds received by Gad Cty in 2015 are legilly restriciod to expenditur for apected purposen: Dunation by a benefocter mandated to provide meals for the noedy Sales taves wo finance the maintenance of louriat facilibes owned by the city What amourt should be accourted tor in Clads fiduciary funde? a s0 b $200,000 e s900,000 d $1,000,000 4. In connoction with Thurnan Townshig s long-serm debt the foliowing cash accumulations are avalabie is cover payment of privipal and interest on: Bonds tor financing of water treatment plant constractionGenerallong- termebligations$1,000,000400,000 The ariourt of these cash accumulations that should be accounted tor in fhuman's debt service findt in: a 50 b $190,000 e s1,000,000 d s1,400,000 Use the following information in answering questons 5 and 6 : On December 31, 2014, Cane Caty paid a contractor $3.000.000 for the tstal cost of a new municipal amexbuit in 2014 on city- owned tand. Financing was provided by a $2,000.000 general obligution bend hsoe sold at face amount on December 31, 2014, with the remaining $1.000.000 transterred from the genenil fund. 5. What account and amount should be reported in Cane's 2014 financial statements for the general fund? a Ocher financing uses, $1,000,000b Other financing sources, $2,000,000 c Expenditures, $7,000,000 at other financing sources, 53,000,000 6. What accounts and amounts should be reported in Cane's 2014 financial statements for the captal proiects land? a other financing souress, $2,000,000, general long-term debt, $2,000,000 - Revenues, $2,000,000; expenditures, $2,000,000 c Other financing sources, $3,000,000, expenditures, $3,000,000 a Revenue, $7,000,000; expenditures, $7,000,000.

1. Multiple cholce [AICPA adapted] 1. fise following revecues were among those reported by
Acvida fownship in ao14: What amount of the forgoing revesues should be acosuntod for in
Arvida's goemmental funas? a 58,140,000 b s6,100,000 e sc,040,000 d s8,000,000 2. Taylor Ciy
issued the tollowing long-4erm obigations: Revenae bouks to be repaid from atmision fees
collected frem users of the city swimming peel 51.000000 Ocheral obligation bends inusd fio the
city water and sewer fund that will service the debt 51,sin,000 Athough these bonds are expected
to be paid tom enterprise funds, the ful tath and credi of the city has been pledged as further
asfurance that the obligations wil be paid. What anount of these bonds should be accourtad lor in
the peopretary fundis? a $0 b $1,000,000 e s1,000,000 d s2,800,000 3. The following proceeds
received by Gad Cty in 2015 are legilly restriciod to expenditur for apected purposen: Dunation
by a benefocter mandated to provide meals for the noedy Sales taves wo finance the maintenance
of louriat facilibes owned by the city What amourt should be accourted tor in Clads fiduciary
funde? a s0 b $200,000 e s900,000 d $1,000,000 4. In connoction with Thurnan Townshig s
long-serm debt the foliowing cash accumulations are avalabie is cover payment of privipal and
interest on: Bonds tor financing of water treatment plant constractionGenerallong-
termebligations$1,000,000400,000 The ariourt of these cash accumulations that should be
accounted tor in fhuman's debt service findt in: a 50 b $190,000 e s1,000,000 d s1,400,000 Use
the following information in answering questons 5 and 6 : On December 31, 2014, Cane Caty
paid a contractor $3.000.000 for the tstal cost of a new municipal amexbuit in 2014 on city-
owned tand. Financing was provided by a $2,000.000 general obligution bend hsoe sold at face
amount on December 31, 2014, with the remaining $1.000.000 transterred from the genenil fund.
5. What account and amount should be reported in Cane's 2014 financial statements for the
general fund? a Ocher financing uses, $1,000,000b Other financing sources, $2,000,000 c
Expenditures, $7,000,000 at other financing sources, 53,000,000 6. What accounts and amounts
should be reported in Cane's 2014 financial statements for the captal proiects land? a other
financing souress, $2,000,000, general long-term debt, $2,000,000 - Revenues, $2,000,000;
expenditures, $2,000,000 c Other financing sources, $3,000,000, expenditures, $3,000,000 a
Revenue, $7,000,000; expenditures, $7,000,000