Short Problem 4 1. The following transactions and events occurred in.pdf
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Short Problem 4 1. The following transactions and events occurred in the city of Porterville in 20X1 (assume the City has a year-end of December 31): a. The township agreed to a new police and fire department building that would be constructed at a cost not to exceed $2,000,000. The city set up a capital projects fund to record the sources and uses of construction funds. b. Cash which to finance the project were received in the Capital Project Fund came from the following sources: - Transfer from General Fund $100,000 - State-Federal Grant $500,000* - Long-term Debt $900,000 - Tax Levy and Collections $500,000 The State/Federal Grant is for 25% of the project cost not to exceed $2,000,000. Any unearned balance must be returned to the state. All conditions of the project were met prior to funding. The project started on January 1, 20X1 and was completed on Sept 30, 20X1. Provide the following journal entries in the specified Fund: Account DR CR Cash 2,000,0000 Account DR CR Account DR CR Account DR CR Account DR CR Account DR CR Statement of Revenues, Expenditures and Change in Fund balance .
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Continuous Problem – City of Monroe 1Continuous Probl.docx
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
¾ General
¾ Special revenue—Street and Highway Fund
¾ Capital projects—City Hall Annex Construction Fund
¾ Debt service—City Jail Annex Debt Service Fund
¾ Debt service—City Hall Debt Service Fund
Proprietary Funds
¾ Internal service—Stores and Services Fund
¾ Enterprise—Water and Sewer Fund
Fiduciary Funds
¾ Private-purpose—Student Scholarship Fund
¾ Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
-37- (Choosing between funds and reporting capital contributions and a.pdf
-37. (Choosing between funds and reporting capital contributions and assets) New City's
incorporation was just approved by a vote of the citizenry at the November 2020 election. New
City will start operations beginning January 1, 2021. The services it plans to provide include a
mayor's office, a town clerk's office (for tax assessment and collection), police services, disposal
of rubbish, water and sewer services, street maintenance, parks, and recreation facilities.
Ignoring budgetary entries, provide the fund and any journal entries that would need to be made
to get New City started: 1. On January 1, New City receives a "start-up" grant from Kelly
County of \$1.5 million cash. All grant eligibility requirements are met. 2. On January 10, New
City's governing body buys a building for $450 , 000 to use as its City Hall. 3. New City issues
$50 million in water and sewer treatment revenue bonds to buy Kelly County \#2 water and
sewer treatment plant, located within New City limits. The bonds were sold at face value (no
premium or discount). New City pays $50 million for the water and sewer treatment plant. 4. On
January 15, New City pays salaries: (a) $17 , 000 to employees of the water and sewer plant and
(b) $15 , 000 to mayor's office and town clerk's office employees..
Continuous Problem – City of Monroe 1Continuous Probl.docx
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
General
Special revenue—Street and Highway Fund
Capital projects—City Hall Annex Construction Fund
Debt service—City Jail Annex Debt Service Fund
Debt service—City Hall Debt Service Fund
Proprietary Funds
Internal service—Stores and Services Fund
Enterprise—Water and Sewer Fund
Fiduciary Funds
Private-purpose—Student Scholarship Fund
Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
Acc 205 week 4 exercise assignment liability new
http://finishedexams.com/homework_text.php?cat=1777
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
Internal Service Funds - Journal EntriesRequired Book journal en.pdf
Internal Service Funds - Journal Entries
Required: Book journal entries for the following transactions for both the Supplies Fund and the
Government-Wide.
Background: In the fiscal year of 2022 the Town of Susanville, upon the approval of the town
council, created an internal service fund to centralize the purchasing, storing, and issuing
functions.
1. In order to provide cash to be used for acquisition of a building and equipment needed to
handle the Supply Fund efficiently, the towns Water Utility Fund provides a long-term, interest-
free interfund loan of $130,000 to the Supply Fund which will be repaid in 20 equal annual
installments. The entry to record the loan is as follows:
Supplies Fund:
Government-Wide:
2. During 2022, supplies are received and related invoices are approved for payment in the
amount of $192,600:
Supplies Fund:
Government-Wide:
3. The budget for the Town of Susanvilles Supplies Fund indicates a 35% markup on the cost
for all supplies issued. The Supply Fund issues supplies costing $185,000 to the General Fund
which will be considered to be allocated and used to departments as follows: General
Government $9,885; Public Safety $54,889; Public Works $99,448; Culture and Recreation
$17,741; Health and Welfare $3,037:
Supplies Fund:
Government-Wide:
4. Collections of payment from the General Fund totaled $249,750 for 2020. The journal entry
is as follows:
Supplies Fund:
Government-Wide:.
Hendricks City formally integrates the budget into its accounting syst.pdf
Hendricks City formally integrates the budget into its accounting system and uses the
encumbrance system. Appropriations do lapse at year-end. Supply purchases are treated as
expenditures. Assume that revenues, expenditures, and other financing sources and uses are
unassigned unless the following information indicates otherwise. Revenues, expenditures, and
other financing sources and uses are either unassigned, assigned, committed, restricted or
nonspendable. Please indicate which category is applicable for revenues, expenditures, or other
financing sources and uses in the problem. Prepare the necessary entries for the general fund.
a. The city approved a budget with revenues estimated to be $2,200 and appropriations of
$2,100.
b. The city ordered supplies at an estimated cost of $950 and equipment at an estimated cost of
$100.
c. The city received the supplies previously ordered. The actual cost was $900 that the city paid
in cash.
d. The city received property tax revenue of $2,100 and paid employees salaries of $1,000.
e. Make the necessary closing entries.
f. Make any necessary opening entries for the next fiscal year..
What amount of the forgoing revenues stovid be accounted for in Aevid.pdf
What amount of the forgoing revenues stovid be accounted for in Aevidas govemmentat funds?
as s,140000 as siou, 000 e ss.040,000 d ss,000,000 2. Tapior Cly issued the following long-term
obligations: Revenue boedv to be refaid finum admiuken foes collected froen wen of the city
swinning poel $1,000,000 Gencral obligation boedk kwued for the siey water and seaer fund that
will vervise the debe 31,30000 Athough tese bonds are expected to be pad trom enterproe finds
the fa faith and oredt of the ofy has been pledged as further assurance that the obligatons wil be
paid. What anount of these bonds should be accounted for in the proprietary funds? a 80 b
51,000,000 e 51,800,000 d 52,800,000 3. The fodswing proceeds received by Gad Caty in 2015
are legely restictad to eapendture for sgecfied purposes: Dotkation by a heneficker mumated to
provide makls for the neody Sales taxes to finance the maithenance of motu facilities emest by
the sity No0000 What amount should be accounted for in Clads fouciay find?? at $0 - 5220,000 c
seove00 di 51,000,000 4. In connoction with Thurman Townshipls long-term dett, the folcuing
cash aceurnulations are available to cover payment of peincipal and interest on. Bonds for
fisancing of water treinimen plant coestructionGonerallongtotimobligationst.000.000sopo.000
The anount of these cash accumblationt that should be accourtad for in Thurman is dete serice
funds ix: at $9 b sinotade e $1,000000 d $1,400,000 Use the following information in answering
questons 5 and 6 : On December 31, 2014, Cane City paid a contractor 51 , 000.000 for the totat
cost of a new municigal annex built in 2014 on city-owned land. Financing was provided by a
52,000.000 generat obligation bond issue soid at tace amount on December 31 , 2014, with the
romaining $1,000,000 tranederred trom the general fund. 5. What acoount and amount should be
reported in Cane s 2014 financial stafements for the general fund? a Other financing ases,
$1,000,000 - Other financing sourees, $2,000,000 6 Expenditures, $3,000,000 a Other finaneing
sources, 53,000,000 6. What accounts and amounts should be reported in Cane s 2014 fnancial
statements for the capital projects fund? a Other financing sources, 52,000,000; generat long-
term debt $2000,000 - Revenues, $2,000,000; expenditures, $2,000,000 c Other financing
spurces, 52,000,000, expenditures, st ava a00 df Revenue, 53,000,000; expenditures, $3,000,000.
Im paying a monthly suscription already. No thanks. What amount of.pdf
I'm paying a monthly suscription already. No thanks. What amount of the forgoing revenues
stovid be accounted for in Aevidas govemmentat funds? as s,140000 as siou, 000 e ss.040,000 d
ss,000,000 2. Tapior Cly issued the following long-term obligations: Revenue boedv to be refaid
finum admiuken foes collected froen wen of the city swinning poel $1,000,000 Gencral
obligation boedk kwued for the siey water and seaer fund that will vervise the debe 31,30000
Athough tese bonds are expected to be pad trom enterproe finds the fa faith and oredt of the ofy
has been pledged as further assurance that the obligatons wil be paid. What anount of these
bonds should be accounted for in the proprietary funds? a 80 b 51,000,000 e 51,800,000 d
52,800,000 3. The fodswing proceeds received by Gad Caty in 2015 are legely restictad to
eapendture for sgecfied purposes: Dotkation by a heneficker mumated to provide makls for the
neody Sales taxes to finance the maithenance of motu facilities emest by the sity No0000 What
amount should be accounted for in Clads fouciay find?? at $0 - 5220,000 c seove00 di
51,000,000 4. In connoction with Thurman Townshipls long-term dett, the folcuing cash
aceurnulations are available to cover payment of peincipal and interest on. Bonds for fisancing of
water treinimen plant coestructionGonerallongtotimobligationst.000.000sopo.000 The anount of
these cash accumblationt that should be accourtad for in Thurman is dete serice funds ix: at $9 b
sinotade e $1,000000 d $1,400,000 Use the following information in answering questons 5 and 6
: On December 31, 2014, Cane City paid a contractor 51 , 000.000 for the totat cost of a new
municigal annex built in 2014 on city-owned land. Financing was provided by a 52,000.000
generat obligation bond issue soid at tace amount on December 31 , 2014, with the romaining
$1,000,000 tranederred trom the general fund. 5. What acoount and amount should be reported in
Cane s 2014 financial stafements for the general fund? a Other financing ases, $1,000,000 -
Other financing sourees, $2,000,000 6 Expenditures, $3,000,000 a Other finaneing sources,
53,000,000 6. What accounts and amounts should be reported in Cane s 2014 fnancial statements
for the capital projects fund? a Other financing sources, 52,000,000; generat long-term debt
$2000,000 - Revenues, $2,000,000; expenditures, $2,000,000 c Other financing spurces,
52,000,000, expenditures, st ava a00 df Revenue, 53,000,000; expenditures, $3,000,000.
Recommended
Continuous Problem – City of Monroe 1Continuous Probl.docx
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
¾ General
¾ Special revenue—Street and Highway Fund
¾ Capital projects—City Hall Annex Construction Fund
¾ Debt service—City Jail Annex Debt Service Fund
¾ Debt service—City Hall Debt Service Fund
Proprietary Funds
¾ Internal service—Stores and Services Fund
¾ Enterprise—Water and Sewer Fund
Fiduciary Funds
¾ Private-purpose—Student Scholarship Fund
¾ Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
-37- (Choosing between funds and reporting capital contributions and a.pdf
-37. (Choosing between funds and reporting capital contributions and assets) New City's
incorporation was just approved by a vote of the citizenry at the November 2020 election. New
City will start operations beginning January 1, 2021. The services it plans to provide include a
mayor's office, a town clerk's office (for tax assessment and collection), police services, disposal
of rubbish, water and sewer services, street maintenance, parks, and recreation facilities.
Ignoring budgetary entries, provide the fund and any journal entries that would need to be made
to get New City started: 1. On January 1, New City receives a "start-up" grant from Kelly
County of \$1.5 million cash. All grant eligibility requirements are met. 2. On January 10, New
City's governing body buys a building for $450 , 000 to use as its City Hall. 3. New City issues
$50 million in water and sewer treatment revenue bonds to buy Kelly County \#2 water and
sewer treatment plant, located within New City limits. The bonds were sold at face value (no
premium or discount). New City pays $50 million for the water and sewer treatment plant. 4. On
January 15, New City pays salaries: (a) $17 , 000 to employees of the water and sewer plant and
(b) $15 , 000 to mayor's office and town clerk's office employees..
Continuous Problem – City of Monroe 1Continuous Probl.docx
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
General
Special revenue—Street and Highway Fund
Capital projects—City Hall Annex Construction Fund
Debt service—City Jail Annex Debt Service Fund
Debt service—City Hall Debt Service Fund
Proprietary Funds
Internal service—Stores and Services Fund
Enterprise—Water and Sewer Fund
Fiduciary Funds
Private-purpose—Student Scholarship Fund
Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
Acc 205 week 4 exercise assignment liability new
http://finishedexams.com/homework_text.php?cat=1777
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
Internal Service Funds - Journal EntriesRequired Book journal en.pdf
Internal Service Funds - Journal Entries
Required: Book journal entries for the following transactions for both the Supplies Fund and the
Government-Wide.
Background: In the fiscal year of 2022 the Town of Susanville, upon the approval of the town
council, created an internal service fund to centralize the purchasing, storing, and issuing
functions.
1. In order to provide cash to be used for acquisition of a building and equipment needed to
handle the Supply Fund efficiently, the towns Water Utility Fund provides a long-term, interest-
free interfund loan of $130,000 to the Supply Fund which will be repaid in 20 equal annual
installments. The entry to record the loan is as follows:
Supplies Fund:
Government-Wide:
2. During 2022, supplies are received and related invoices are approved for payment in the
amount of $192,600:
Supplies Fund:
Government-Wide:
3. The budget for the Town of Susanvilles Supplies Fund indicates a 35% markup on the cost
for all supplies issued. The Supply Fund issues supplies costing $185,000 to the General Fund
which will be considered to be allocated and used to departments as follows: General
Government $9,885; Public Safety $54,889; Public Works $99,448; Culture and Recreation
$17,741; Health and Welfare $3,037:
Supplies Fund:
Government-Wide:
4. Collections of payment from the General Fund totaled $249,750 for 2020. The journal entry
is as follows:
Supplies Fund:
Government-Wide:.
Hendricks City formally integrates the budget into its accounting syst.pdf
Hendricks City formally integrates the budget into its accounting system and uses the
encumbrance system. Appropriations do lapse at year-end. Supply purchases are treated as
expenditures. Assume that revenues, expenditures, and other financing sources and uses are
unassigned unless the following information indicates otherwise. Revenues, expenditures, and
other financing sources and uses are either unassigned, assigned, committed, restricted or
nonspendable. Please indicate which category is applicable for revenues, expenditures, or other
financing sources and uses in the problem. Prepare the necessary entries for the general fund.
a. The city approved a budget with revenues estimated to be $2,200 and appropriations of
$2,100.
b. The city ordered supplies at an estimated cost of $950 and equipment at an estimated cost of
$100.
c. The city received the supplies previously ordered. The actual cost was $900 that the city paid
in cash.
d. The city received property tax revenue of $2,100 and paid employees salaries of $1,000.
e. Make the necessary closing entries.
f. Make any necessary opening entries for the next fiscal year..
What amount of the forgoing revenues stovid be accounted for in Aevid.pdf
What amount of the forgoing revenues stovid be accounted for in Aevidas govemmentat funds?
as s,140000 as siou, 000 e ss.040,000 d ss,000,000 2. Tapior Cly issued the following long-term
obligations: Revenue boedv to be refaid finum admiuken foes collected froen wen of the city
swinning poel $1,000,000 Gencral obligation boedk kwued for the siey water and seaer fund that
will vervise the debe 31,30000 Athough tese bonds are expected to be pad trom enterproe finds
the fa faith and oredt of the ofy has been pledged as further assurance that the obligatons wil be
paid. What anount of these bonds should be accounted for in the proprietary funds? a 80 b
51,000,000 e 51,800,000 d 52,800,000 3. The fodswing proceeds received by Gad Caty in 2015
are legely restictad to eapendture for sgecfied purposes: Dotkation by a heneficker mumated to
provide makls for the neody Sales taxes to finance the maithenance of motu facilities emest by
the sity No0000 What amount should be accounted for in Clads fouciay find?? at $0 - 5220,000 c
seove00 di 51,000,000 4. In connoction with Thurman Townshipls long-term dett, the folcuing
cash aceurnulations are available to cover payment of peincipal and interest on. Bonds for
fisancing of water treinimen plant coestructionGonerallongtotimobligationst.000.000sopo.000
The anount of these cash accumblationt that should be accourtad for in Thurman is dete serice
funds ix: at $9 b sinotade e $1,000000 d $1,400,000 Use the following information in answering
questons 5 and 6 : On December 31, 2014, Cane City paid a contractor 51 , 000.000 for the totat
cost of a new municigal annex built in 2014 on city-owned land. Financing was provided by a
52,000.000 generat obligation bond issue soid at tace amount on December 31 , 2014, with the
romaining $1,000,000 tranederred trom the general fund. 5. What acoount and amount should be
reported in Cane s 2014 financial stafements for the general fund? a Other financing ases,
$1,000,000 - Other financing sourees, $2,000,000 6 Expenditures, $3,000,000 a Other finaneing
sources, 53,000,000 6. What accounts and amounts should be reported in Cane s 2014 fnancial
statements for the capital projects fund? a Other financing sources, 52,000,000; generat long-
term debt $2000,000 - Revenues, $2,000,000; expenditures, $2,000,000 c Other financing
spurces, 52,000,000, expenditures, st ava a00 df Revenue, 53,000,000; expenditures, $3,000,000.
Im paying a monthly suscription already. No thanks. What amount of.pdf
I'm paying a monthly suscription already. No thanks. What amount of the forgoing revenues
stovid be accounted for in Aevidas govemmentat funds? as s,140000 as siou, 000 e ss.040,000 d
ss,000,000 2. Tapior Cly issued the following long-term obligations: Revenue boedv to be refaid
finum admiuken foes collected froen wen of the city swinning poel $1,000,000 Gencral
obligation boedk kwued for the siey water and seaer fund that will vervise the debe 31,30000
Athough tese bonds are expected to be pad trom enterproe finds the fa faith and oredt of the ofy
has been pledged as further assurance that the obligatons wil be paid. What anount of these
bonds should be accounted for in the proprietary funds? a 80 b 51,000,000 e 51,800,000 d
52,800,000 3. The fodswing proceeds received by Gad Caty in 2015 are legely restictad to
eapendture for sgecfied purposes: Dotkation by a heneficker mumated to provide makls for the
neody Sales taxes to finance the maithenance of motu facilities emest by the sity No0000 What
amount should be accounted for in Clads fouciay find?? at $0 - 5220,000 c seove00 di
51,000,000 4. In connoction with Thurman Townshipls long-term dett, the folcuing cash
aceurnulations are available to cover payment of peincipal and interest on. Bonds for fisancing of
water treinimen plant coestructionGonerallongtotimobligationst.000.000sopo.000 The anount of
these cash accumblationt that should be accourtad for in Thurman is dete serice funds ix: at $9 b
sinotade e $1,000000 d $1,400,000 Use the following information in answering questons 5 and 6
: On December 31, 2014, Cane City paid a contractor 51 , 000.000 for the totat cost of a new
municigal annex built in 2014 on city-owned land. Financing was provided by a 52,000.000
generat obligation bond issue soid at tace amount on December 31 , 2014, with the romaining
$1,000,000 tranederred trom the general fund. 5. What acoount and amount should be reported in
Cane s 2014 financial stafements for the general fund? a Other financing ases, $1,000,000 -
Other financing sourees, $2,000,000 6 Expenditures, $3,000,000 a Other finaneing sources,
53,000,000 6. What accounts and amounts should be reported in Cane s 2014 fnancial statements
for the capital projects fund? a Other financing sources, 52,000,000; generat long-term debt
$2000,000 - Revenues, $2,000,000; expenditures, $2,000,000 c Other financing spurces,
52,000,000, expenditures, st ava a00 df Revenue, 53,000,000; expenditures, $3,000,000.
The Hills City maintains a Water and Sewer Fund to provide utility s.pdf
The Hills City maintains a Water and Sewer Fund to provide utility services to its citizens. As of
January 1, 2020, the Water and Sewer Fund had the following account balances:
(1) During the year, sales of water to non-government customers amounted to $1,025,000 and
sales of water to the General Fund amounted to $37,000.
(2) Collections from non-government customers amounted to $983,000.
(3) The Stores and Services Fund repaid $15,000 of the long-term advance to the Water and
Sewer Fund.
(4) Materials and supplies in the amount of $261,000 were received. A liability in that amount
was recorded.
(5) Materials and supplies were issued and were charged to the following accounts: cost of sales
and services, $180,000; selling, $15,000; administration, $18,000; construction work in progress,
$50,000.
(6) Payroll costs for the year totaled $416,200 plus $34,200 for the employer's share of payroll
taxes. Of that amount, $351,900 was paid in cash, and the remainder was withheld for taxes. The
$450,400 (416,200 + 34,200) was distributed as follows: cost of sales and services, $265,800;
sales, $43,900; administration, $91,400; construction work in progress, $49,300.
(7) Bond interest (5%) was paid.
(8) In accord with the revenue bond indenture, $25,000 cash was transferred from operating cash
to restricted assets.
(9) Construction projects at the water treatment plant (reflected in the beginning balance of
construction in process) were completed in the amount of $214,000, and the assets were placed
in service. Payments for these amounts were made in the previous year (no effect on 2020
Statement of Cash Flows).
(10) Collection efforts were discontinued on bills totaling $3,500. The unpaid receivables were
written off.
(11) An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts
needed to be increased by $6,500.
(12) Payment of accounts payable amounted to $332,000. Payments of payroll taxes totaled
$95,200.
(13) Supplies transferred from the Stores and Services Fund amounted to $58,000. Cash in the
amount of $50,000 was paid to the Stores and Services Fund for supplies.
(14) Depreciation expense for the year was computed to be $267,000.
Required:
(A) Open a general journal for the Water and Sewer Utility Fund and record the above
transactions.
(B) A Statement of Revenues, Expenses, and Changes in Fund Net position for the Year Ended
December 31, 2020.
(C) A Statement of Net position, as of December 31, 2020.DebitsCreditsCash$102,000Customer
Accounts Receivable80,000Estimated Uncollectible Accounts Receivable$4,500Materials and
Supplies28,000Advance to Stores and Services Fund30,000Restricted Assets117,000Water
Treatment Plant in Service4,200,000Construction Work in Progress203,000Accumulated
Depreciation - Utility Plant1,200,000Accounts Payable96,500Revenue Bonds Payable (5%
interest)2,500,000Net position959,000Totals$4,760,000$4,760,000.
6. Entry and trial balance preparation. Lee Adkins is a portra.docx
6.
Entry and trial balance preparation
. Lee Adkins is a portrait artist. The following schedule represents Lee’s combined chart of accounts and trial balance as of May 31.
Account number
Account name
Debit
Credit
110
Cash
$ 2,700
120
Accounts Receivable
12,100
130
Equipment and Supplies
2,800
140
Studio
45,000
210
Accounts Payable
$2,600
310
Lee Adkins, Capital
57,400
320
Lee Adkins, Drawing
30,000
410
Professional Fee Revenue
39,000
510
Advertising Expense
2,300
520
Salaries Expense
2,100
540
Utilities Expense
2,000
$99,000
$99,000
The general ledger also revealed account no. 530, Legal and Accounting Expense. The following transactions occurred during June:
6/2
Collected $3,000 on account from customers
6/7
Sold 25% of the equipment and supplies to a young artist for $700 cash
6/10
Received a $300 invoice from the accountant for preparing last quarter's financial Statements.
6/15
Paid $1,900 to creditors on account.
6/27
Adkins withdrew $2,000 cash for personal use.
6/30
Billed a customer $3,000 for a portrait painted this month.
a. Record the necessary journal entries for June on page 2 of the company’s general journal. (See Exhibit 2.6)
b. Open running balance ledger “T” accounts by entering account titles, account numbers, and May 31 balances. (See exhibit 2.3 and 2.4)
c. Post the journal entries to the “T” accounts.
d. Prepare a trial balance as of June 30. (See exhibit 2.9)
7. Journal entry preparation.
On January 1 of the current year, Peter Houston invested $80,000 cash into his companyMuniServ.The cash was obtained from an owner investment by Peter Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company acquired selected assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000), and vehicles ($10,000). MuniServ paid $45,000 at the time of the transaction and agreed to remit the remaining balance due of $15,000 (an account payable) by February 15.
During January, the company had additional cash outlays for the following items:
Purchases of store equipment
$4,600
Note payment
500
Salaries expense
2,300
Advertising expense
700
The January utility bill of $200 was received on January 31 and will be paid next month. MuniServ rendered services to clients on account amounting to $9,400.
All customers have been billed; by month end, $3,700 had been received in settlement of account balances.
Instructions
a.
Present journal entries that reflect MuniServ's January transactions, including the $80,000raised from the owner investment and loan. (See exhibit 2.6)
b.
Compute the total debits, total credits, and ending balance that would befound in the company's Cash account. (Post to “T” Accounts, see exhibit 2.3 and 2.4)
c.
Determine the amount that would be shown on the January 31 trial balance for Accounts
Payable. Is the balance a debit or a credit?
.
The following assumptions and exhibits will be used in prepa.pdf
The following assumptions and exhibits will be used in preparing the practice set. The Town's
opening balances are: (General Ledgers are already posted) Exhibif a The following budget was
approved for 20X year:Exhibit B The following payrolls were prepared and recorded during the first
two months. The towr pays all employees on a bi-weekly basis.The following abstracts were paid
during the two-month period of our practice set. Exhibitc Abstract Abstract 22 - This was originally
encumbered.A. Accounting Entries January 2 - The budget included in Exhibit A is journalized and
posted to the appropriate ledgers. January 2 - Real Property Tax bills are prepared and mailed
amounting to $50,000. January 5 - Sales Tax Revenues ($10,000) for the 4tin quarter of last year
is received. January 10 - A State aid youth claim is prepared and submitted for $1,000. Moneys
are anticipated to be received during the town's fiscal year. January 15 - Payroll # 1 in Exhibit B is
paid. January 20 - Received prior year State aid claim accrued minus $500 disallowance. January
29 - Payroll 2 in Exhibit B is paid. January 30 - Abstract #1 in Exhibit C is paid. January 31 - Tax
Collector remits tax moneys in the amount of $40,000. February 1 - The Police Department issues
purchase order #1 for equipment (3120.2) in the amount of $13,000. February 2 - Recelves State
aid for youth program in the amount of $1,100($100 adjustment for mathematical mistake).
February 10 - Tax Collector submits balance of taxes ($10,000) in addition to $200 in interest.
February 16 - Payroll #3 in Exhibit B is paid. February 17 - The Police Department issues
purchase order #2 for equipment in the amount of $9,000. (Hint: If there is insufficient
appropriations, transfer from 3120.4.) February 22 - Paid Abstract 2 Exhibit C.Record Payroll 4
Exhibit B. Payroll should charge 80 percent to month of February, 20 percent should be attributed
to March. B. Adjusting Entries 1. Park equipment in the amount of $4,000. (7110.2) was received
but never recorded. 2. A State aid claim has just been submitted $5,000 (youth program). C.
Prepare Closing Entries D. Prepare Year-End Financial Statements (Form of Statements in
Packet).
Indicate which governmental fund would most likely be used to record.pdf
Indicate which governmental fund would most likely be used to record the following events and
transactions:
A) debt service fund B) permanet fund C) general fund D) Special Revenue Fund E) Capital
projects fund
--The City sent property tax bills to taxpayers to help cover day-to-day operations.
--The City received a Federal grant fund an alternative sentencing program.
--Cash was transferred to this fund to accumulate resources to pay general obligation bond debt.
--Received $2,000,000 in Federal grant money to construct a new police substation.
--Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library.
--The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways
into walking and bicycle trails in the City were deposited in this fund.
--The mayor was paid her monthly salary from this fund.
--The County levies a hotel occupancy tax that may only be used to fund parks and other
recreational facilities.
--Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were
issued.
--Paid the invoice received from a human resoruces consultant hired to review and evaluate the
City\'s personnel manual.
--The City sent property tax bills to taxpayers to help cover day-to-day operations.
--The City received a Federal grant fund an alternative sentencing program.
--Cash was transferred to this fund to accumulate resources to pay general obligation bond debt.
--Received $2,000,000 in Federal grant money to construct a new police substation.
--Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library.
--The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways
into walking and bicycle trails in the City were deposited in this fund.
--The mayor was paid her monthly salary from this fund.
--The County levies a hotel occupancy tax that may only be used to fund parks and other
recreational facilities.
--Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were
issued.
--Paid the invoice received from a human resoruces consultant hired to review and evaluate the
City\'s personnel manual.
Solution
The City sent property tax bills to taxpayers to help cover day-to-day operations - Special
revenue fund
The City received a Federal grant fund an alternative sentencing program - General fund
Cash was transferred to this fund to accumulate resources to pay general obligation bond debt -
Debt service fund
Received $2,000,000 in Federal grant money to construct a new police substation - Capital
Projects fund
Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library - Permanent
fund
The proceeds from .
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise Assignment
Basic Accounting Equations
1. Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and accessories. Identify the items that follow as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint.
a. The inventory of boating supplies owned by the company.
b. Monthly rental charges paid for store space.
c. A loan owed to Citizens Bank.
d. New computer equipment purchased to handle daily record keeping.
e. Daily sales made to customers.
f. Amounts due from customers.
g. Land owned by the company to be used as a future store site.
h. Weekly salaries paid to salespeople.
2. Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
Accounts Payable $3,200 Interest Expense $2,500
Accounts Receivable 14,800 Land 18,000
Auto Expense 1,900 Loan Payable 40,000
Building 30,000 Tax Expense 3,300
Cash 7,400 Utilities Expense 4,100
Fee Revenue 56,900 Wage Expense 37,500
a. Determine Rossi’s total assets as of December 31.
b. Determine the company’s total liabilities as of December 31.
c. Compute 20X3 net income or loss.
3. Balance sheet preparation. The following data relate to Preston Company as of December 31, 19XX:
Building $44,000 Accounts receivable $24,000
Cash 17,000 Loan payable 30,000
J. Preston, Owners Equity 65,000 Land 21,000
Accounts payable ?
Prepare a balance sheet as of December 31, 19XX. (See Exhibit 1.1 and 1.4)
4. Basic transaction processing. On November 1 of the current year, Richard Parker established a sole proprietorship. The following transactions occurred during the month:
1: Parker invested $19,000 into the business.
2: Paid $9,000 to acquire a used minivan.
3: Purchased $1,800 of office furniture on account.
4: Performed $2,100 of consulting services on account.
5: Paid $300 of repair expenses.
6: Received $800 from clients who were previously billed in item 4.
7: Paid $500 on account to the supplier of office furniture in item 3.
8: Received a $150 electric bill, to be paid next month.
9: Parker withdrew $600 from the business.
10: Received $250 in cash from clients for consulting services rendered.
Instructions
a. Arrange the following asset, liability, and owner’s equity elements of the accounting equation: Cash, Accounts Receivable, Office Furniture, Van, Accounts Payable, Investments/Withdrawals, and Revenues/Expenses. (See Exhibit 5)
b. Record each transaction on a separate line. After all transactions have been recorded, compute the balance in each of the preceding items.
c. Answer the following questions for Parker.
(1) How much does the company owe to its creditors at month-end? On which financial statement(s) would this information be found?
(2) Did the company have a “good” month from an accounting viewpoint? Briefly explain.
5. Transaction analysis and statement.
The Balance Sheets of the General Fund and the Street and Highway Fu.pdf
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of Monroe
as of December 31, 2014, follow. These (beginning) balances have been entered in the proper
general ledger accounts, as of 1/1/2015.
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible
interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred In
flows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred in
flows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund Equity
Liabilities:
Accounts payable $9,000
Fund equity:
Fund balance—assigned for streets and
highways 180,000
Total liabilities and fund equity $189,000
3–C - This portion of the continuous problem continues the General Fund and special revenue
fund examples by requiring the recording and posting of the budgetary entries. To reduce clerical
effort required for the solution use control accounts for the budgetary accounts, revenues,
expenditures and encumbrances. Subsidiary accounts are not required. Budget information for
the City includes:
a) As of January 1, 2015, the City Council approved and the mayor signed a budget calling for
$11,250,000 in property tax and other revenue, $9,300,000 in appropriations for expenditures,
and $1,700,000 to be transferred to two debt service funds for the payment of principal and
interest. Record the budget for the General Fund and post to the ledger.
b) Also as of January 1, 2015, the City Council approved and the mayor signed a budget for the
Street and Highway Fund that provided for estimated revenues from the state government in the
amount of $1,068,000 and appropriations of $1,047,000. Record the budget and post to the
ledger.
4–C. Part 1. General Fund Transactions
Required:
a. Record journal entries for the following transactions for FY 2015. Make any computations to
the nearest dollar. Journal entry explanations are not required. Use control accounts for revenues,
expenditures and budgetary accounts. It is not necessary to reflect subsidiary ledger entries.
(1) Encumbrances of $ 17,000 for purchase orders outstanding at the end of 2014 were re-
established.
(2) The January 1, 2015, balance in Deferred Inflows – Property Taxes relates to the amount of
the 2014 levy that was expected to be collected more than 60 days after December 31. This
amount should be recognized as 2015 revenues..
Recording Transactions, Preparing Journal Entries, Posting to T-Accou.pdf
Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing a
Statement of Financial Position, and Evaluating the Current Ratio (P2-5) BCE Inc., Canadn's
largest communications company, provides a comprehensive and innovative suite of broadband
communications and content services to consumer, residential, business, and governme
customers in Canada. The following is BCE's (simplified) statement of financial position from a
recent year:
Assume that the following transactions (in millions of dollars) occurred in fiscal year 2021
(ended on December 31, 2021): a. Issued additional shares for $200 in cash. b. Borrowed $6,300
from creditors; due in 10 years. Long Term 300 c. Purchased additional investments for $1,500
cash; one-fifth were long-term and the rest were short-term. 1200 d. Purchased property, plant,
and equipment; paid $4,650 in cash and $850 with additional long-term bank loans. e. Lent $250
to associated companies that signed a six-month note. f. Sold short-term investments costing
$200 for $200 cash. Required: 1. Prepare a journal entry for each transaction. 2. Create a T-
account for each item on the statement of financial position and include the December 31 , 2020
balances. Post each journal entry to the appropriate T-account. 3. Prepare a trial balance as at
December 31, 2021. 4. Prepare a statement of financial position for BCE based on the T-account
ending balances at December 31, 2021. 5. Compute BCE's current ratio for fiscal year 2021.
What does this suggest about the company?.
1. (TCO B) Which of the following is not a true statement .docx
1. (TCO B) Which of the following is not a true statement regarding the government-wide financial statements? (Points : 5)
The government-wide financial statements are not required to present prior-year data.
The government-wide financial statements include a Statement of Net Assets, Statement of Activities, and Statement of Cash Flows.
The government-wide financial statements include capital assets, include infrastructure, and reflect depreciation, except for the infrastructure using the modified approach.
All of the above are true.
2. (TCO D) A donor pledged $300,000 to thefund raising drive of a local government to assist its police officers in obtaining the latest technology. The pledge was made on July 17, 2011 but was conditioned on the government raising an additional $300,000 from other donors. By the fiscal year-end of June 30, 2012, the local government had raised only $6,000 from other donors. What entry would be made for the initial pledge by the local government during the year ended June 30, 2012? (Points : 5)
Debit a receivable account and credit deferred revenues, a liability account.
No entry is required.
Debit a receivable account and credit the Fund Balance account.
Debit a receivable account and credit a revenue account.
3. (TCO D) The City of Davenport adopted the following budget for fiscal year 2012:
Anticipated Revenues:
Property Taxes $5,340,000
Licenses and Permits 523,000
Fines and Forfeits 425,000Total $6,288,000
Approved Expenditures:
General Government $2,160,000
Public Safety 2,450,000
Public Works 1,560,000
Total $6,170,000
In addition, the City reported the following actual amounts for the same fiscal year:
Revenues:
Property Taxes $5,375,000
Licenses and Permits 519,000
Fines and Forfeits 437,000
Total $6,331,000
Expenditures-Current Year:
General Government 2,175,000
Public Safety ...
Acct 567 final exam solutions 100% correct answers
Acct 567 final exam solutions 100% correct answers
Since the CAE of Freshstart (Pty) Ltd is an integral part of the e.pdf
Since the CAE of Freshstart (Pty) Ltd is an integral part of the executive management team, the
performance of the CAE and the internal audit activity is evaluated informally in management,
audit committee and board meetings. In the opinion of the former CAE, this close and
continuous monitoring, and assessment, adequately addresses the requirements of the
International Standards for the Professional Practice of Internal Auditing (Standards), regarding
quality assurance.
Upon realising that the former CAE may have incorrectly interpreted her responsibilities
regarding quality assurance, you investigated the reasons for her actions which revealed the
following: 1. The former CAE is a chartered accountant (CA), who prior to her appointment at
Freshstart (Pty) Ltd did not have any internal audit experience and is not a member of the
Institute of Internal Auditors (IIA). Moreover, due to her financial auditing experience gained at
one of the large auditing firms, she believed that internal auditing was merely an extension of the
external auditing function. Since the audit committee was satisfied with the functioning of the
internal audit activity and the external auditors placed extensive reliance on the work performed
by the internal audit activity, she often sent her staff on training courses presented by an external
auditing firm. She also never required her internal audit staff members to be members of the IIA.
2. The CAE prepared an annual audit plan, coinciding with the financial year and based on
requests from senior management. This plan was presented to the board for notification after
approval by the CEO. At the subsequent audit committee meeting, the audit committee would
consider the actual internal audits performed against the approved plan. The CAE was required
only to verbally explain any deviations from the annual audit plan at the audit committee
meetings.
3.While an audit manual had been developed when the internal audit activity was originally
established, it had not been updated for at least 10 years. However, since several of the internal
audit staff had been employed within the internal audit activity for some time, the CAE believed
that they knew what had to be done and did not see the need to be prescriptive about enforcing
procedures. Where changes to policies or procedures were proposed, the CAE would simply
arrange a workshop for all internal audit staff where they would be advised of the pending
changes and the effective date for implementation.
4. When planning for the audits, the CAE would allocate internal audit staff based solely on their
availability. No performance monitoring mechanisms have been implemented to monitor and
gauge the overall adequacy of the resources performance.
5. Since no complaints had been received about the functioning of the internal audit activity and
the fact that the audit committee, management and the external auditors appeared satisfied with
the quality of the internal audit efforts, w.
Service Area Structural AnalysisTable 2. Service Area Structural A.pdf
Service Area Structural Analysis
Table 2. Service Area Structural Analysis i need more information on these parts for c williams
health community in NC and the external analysis Five ForcesForces Driving Service Area
CompetitionConclusionThreat of New EntrantsLow barriers to entry, attract new providers and
increase competitionFocus on innovation and strong customer relationshipIntensity of
RivalryMore competitors can lead to higher rivalryPrice competition and differentiationThreat of
substitutesAvailability of alternative services to meet the same needsUnique value and expertise
they bring to their servicesBargaining Power of Buyers (Customers)They can demand better
quality, lower prices & additional servicesFocus on customer-centric strategiesBargaining Power
of SuppliersDemand higher prices, affecting the cost structure & competitiveness of the
serviceExploring cost-effective sourcing strategies help balanced relationship.
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Similar to Short Problem 4 1. The following transactions and events occurred in.pdf
The Hills City maintains a Water and Sewer Fund to provide utility s.pdf
The Hills City maintains a Water and Sewer Fund to provide utility services to its citizens. As of
January 1, 2020, the Water and Sewer Fund had the following account balances:
(1) During the year, sales of water to non-government customers amounted to $1,025,000 and
sales of water to the General Fund amounted to $37,000.
(2) Collections from non-government customers amounted to $983,000.
(3) The Stores and Services Fund repaid $15,000 of the long-term advance to the Water and
Sewer Fund.
(4) Materials and supplies in the amount of $261,000 were received. A liability in that amount
was recorded.
(5) Materials and supplies were issued and were charged to the following accounts: cost of sales
and services, $180,000; selling, $15,000; administration, $18,000; construction work in progress,
$50,000.
(6) Payroll costs for the year totaled $416,200 plus $34,200 for the employer's share of payroll
taxes. Of that amount, $351,900 was paid in cash, and the remainder was withheld for taxes. The
$450,400 (416,200 + 34,200) was distributed as follows: cost of sales and services, $265,800;
sales, $43,900; administration, $91,400; construction work in progress, $49,300.
(7) Bond interest (5%) was paid.
(8) In accord with the revenue bond indenture, $25,000 cash was transferred from operating cash
to restricted assets.
(9) Construction projects at the water treatment plant (reflected in the beginning balance of
construction in process) were completed in the amount of $214,000, and the assets were placed
in service. Payments for these amounts were made in the previous year (no effect on 2020
Statement of Cash Flows).
(10) Collection efforts were discontinued on bills totaling $3,500. The unpaid receivables were
written off.
(11) An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts
needed to be increased by $6,500.
(12) Payment of accounts payable amounted to $332,000. Payments of payroll taxes totaled
$95,200.
(13) Supplies transferred from the Stores and Services Fund amounted to $58,000. Cash in the
amount of $50,000 was paid to the Stores and Services Fund for supplies.
(14) Depreciation expense for the year was computed to be $267,000.
Required:
(A) Open a general journal for the Water and Sewer Utility Fund and record the above
transactions.
(B) A Statement of Revenues, Expenses, and Changes in Fund Net position for the Year Ended
December 31, 2020.
(C) A Statement of Net position, as of December 31, 2020.DebitsCreditsCash$102,000Customer
Accounts Receivable80,000Estimated Uncollectible Accounts Receivable$4,500Materials and
Supplies28,000Advance to Stores and Services Fund30,000Restricted Assets117,000Water
Treatment Plant in Service4,200,000Construction Work in Progress203,000Accumulated
Depreciation - Utility Plant1,200,000Accounts Payable96,500Revenue Bonds Payable (5%
interest)2,500,000Net position959,000Totals$4,760,000$4,760,000.
6. Entry and trial balance preparation. Lee Adkins is a portra.docx
6.
Entry and trial balance preparation
. Lee Adkins is a portrait artist. The following schedule represents Lee’s combined chart of accounts and trial balance as of May 31.
Account number
Account name
Debit
Credit
110
Cash
$ 2,700
120
Accounts Receivable
12,100
130
Equipment and Supplies
2,800
140
Studio
45,000
210
Accounts Payable
$2,600
310
Lee Adkins, Capital
57,400
320
Lee Adkins, Drawing
30,000
410
Professional Fee Revenue
39,000
510
Advertising Expense
2,300
520
Salaries Expense
2,100
540
Utilities Expense
2,000
$99,000
$99,000
The general ledger also revealed account no. 530, Legal and Accounting Expense. The following transactions occurred during June:
6/2
Collected $3,000 on account from customers
6/7
Sold 25% of the equipment and supplies to a young artist for $700 cash
6/10
Received a $300 invoice from the accountant for preparing last quarter's financial Statements.
6/15
Paid $1,900 to creditors on account.
6/27
Adkins withdrew $2,000 cash for personal use.
6/30
Billed a customer $3,000 for a portrait painted this month.
a. Record the necessary journal entries for June on page 2 of the company’s general journal. (See Exhibit 2.6)
b. Open running balance ledger “T” accounts by entering account titles, account numbers, and May 31 balances. (See exhibit 2.3 and 2.4)
c. Post the journal entries to the “T” accounts.
d. Prepare a trial balance as of June 30. (See exhibit 2.9)
7. Journal entry preparation.
On January 1 of the current year, Peter Houston invested $80,000 cash into his companyMuniServ.The cash was obtained from an owner investment by Peter Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company acquired selected assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000), and vehicles ($10,000). MuniServ paid $45,000 at the time of the transaction and agreed to remit the remaining balance due of $15,000 (an account payable) by February 15.
During January, the company had additional cash outlays for the following items:
Purchases of store equipment
$4,600
Note payment
500
Salaries expense
2,300
Advertising expense
700
The January utility bill of $200 was received on January 31 and will be paid next month. MuniServ rendered services to clients on account amounting to $9,400.
All customers have been billed; by month end, $3,700 had been received in settlement of account balances.
Instructions
a.
Present journal entries that reflect MuniServ's January transactions, including the $80,000raised from the owner investment and loan. (See exhibit 2.6)
b.
Compute the total debits, total credits, and ending balance that would befound in the company's Cash account. (Post to “T” Accounts, see exhibit 2.3 and 2.4)
c.
Determine the amount that would be shown on the January 31 trial balance for Accounts
Payable. Is the balance a debit or a credit?
.
The following assumptions and exhibits will be used in prepa.pdf
The following assumptions and exhibits will be used in preparing the practice set. The Town's
opening balances are: (General Ledgers are already posted) Exhibif a The following budget was
approved for 20X year:Exhibit B The following payrolls were prepared and recorded during the first
two months. The towr pays all employees on a bi-weekly basis.The following abstracts were paid
during the two-month period of our practice set. Exhibitc Abstract Abstract 22 - This was originally
encumbered.A. Accounting Entries January 2 - The budget included in Exhibit A is journalized and
posted to the appropriate ledgers. January 2 - Real Property Tax bills are prepared and mailed
amounting to $50,000. January 5 - Sales Tax Revenues ($10,000) for the 4tin quarter of last year
is received. January 10 - A State aid youth claim is prepared and submitted for $1,000. Moneys
are anticipated to be received during the town's fiscal year. January 15 - Payroll # 1 in Exhibit B is
paid. January 20 - Received prior year State aid claim accrued minus $500 disallowance. January
29 - Payroll 2 in Exhibit B is paid. January 30 - Abstract #1 in Exhibit C is paid. January 31 - Tax
Collector remits tax moneys in the amount of $40,000. February 1 - The Police Department issues
purchase order #1 for equipment (3120.2) in the amount of $13,000. February 2 - Recelves State
aid for youth program in the amount of $1,100($100 adjustment for mathematical mistake).
February 10 - Tax Collector submits balance of taxes ($10,000) in addition to $200 in interest.
February 16 - Payroll #3 in Exhibit B is paid. February 17 - The Police Department issues
purchase order #2 for equipment in the amount of $9,000. (Hint: If there is insufficient
appropriations, transfer from 3120.4.) February 22 - Paid Abstract 2 Exhibit C.Record Payroll 4
Exhibit B. Payroll should charge 80 percent to month of February, 20 percent should be attributed
to March. B. Adjusting Entries 1. Park equipment in the amount of $4,000. (7110.2) was received
but never recorded. 2. A State aid claim has just been submitted $5,000 (youth program). C.
Prepare Closing Entries D. Prepare Year-End Financial Statements (Form of Statements in
Packet).
Indicate which governmental fund would most likely be used to record.pdf
Indicate which governmental fund would most likely be used to record the following events and
transactions:
A) debt service fund B) permanet fund C) general fund D) Special Revenue Fund E) Capital
projects fund
--The City sent property tax bills to taxpayers to help cover day-to-day operations.
--The City received a Federal grant fund an alternative sentencing program.
--Cash was transferred to this fund to accumulate resources to pay general obligation bond debt.
--Received $2,000,000 in Federal grant money to construct a new police substation.
--Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library.
--The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways
into walking and bicycle trails in the City were deposited in this fund.
--The mayor was paid her monthly salary from this fund.
--The County levies a hotel occupancy tax that may only be used to fund parks and other
recreational facilities.
--Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were
issued.
--Paid the invoice received from a human resoruces consultant hired to review and evaluate the
City\'s personnel manual.
--The City sent property tax bills to taxpayers to help cover day-to-day operations.
--The City received a Federal grant fund an alternative sentencing program.
--Cash was transferred to this fund to accumulate resources to pay general obligation bond debt.
--Received $2,000,000 in Federal grant money to construct a new police substation.
--Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library.
--The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways
into walking and bicycle trails in the City were deposited in this fund.
--The mayor was paid her monthly salary from this fund.
--The County levies a hotel occupancy tax that may only be used to fund parks and other
recreational facilities.
--Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were
issued.
--Paid the invoice received from a human resoruces consultant hired to review and evaluate the
City\'s personnel manual.
Solution
The City sent property tax bills to taxpayers to help cover day-to-day operations - Special
revenue fund
The City received a Federal grant fund an alternative sentencing program - General fund
Cash was transferred to this fund to accumulate resources to pay general obligation bond debt -
Debt service fund
Received $2,000,000 in Federal grant money to construct a new police substation - Capital
Projects fund
Received a donation from a private citizen with the stipulation that the corpus be kept in
perpetuity, but the earnings are to be used to purchase media for the public library - Permanent
fund
The proceeds from .
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise Assignment
Basic Accounting Equations
1. Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and accessories. Identify the items that follow as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint.
a. The inventory of boating supplies owned by the company.
b. Monthly rental charges paid for store space.
c. A loan owed to Citizens Bank.
d. New computer equipment purchased to handle daily record keeping.
e. Daily sales made to customers.
f. Amounts due from customers.
g. Land owned by the company to be used as a future store site.
h. Weekly salaries paid to salespeople.
2. Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
Accounts Payable $3,200 Interest Expense $2,500
Accounts Receivable 14,800 Land 18,000
Auto Expense 1,900 Loan Payable 40,000
Building 30,000 Tax Expense 3,300
Cash 7,400 Utilities Expense 4,100
Fee Revenue 56,900 Wage Expense 37,500
a. Determine Rossi’s total assets as of December 31.
b. Determine the company’s total liabilities as of December 31.
c. Compute 20X3 net income or loss.
3. Balance sheet preparation. The following data relate to Preston Company as of December 31, 19XX:
Building $44,000 Accounts receivable $24,000
Cash 17,000 Loan payable 30,000
J. Preston, Owners Equity 65,000 Land 21,000
Accounts payable ?
Prepare a balance sheet as of December 31, 19XX. (See Exhibit 1.1 and 1.4)
4. Basic transaction processing. On November 1 of the current year, Richard Parker established a sole proprietorship. The following transactions occurred during the month:
1: Parker invested $19,000 into the business.
2: Paid $9,000 to acquire a used minivan.
3: Purchased $1,800 of office furniture on account.
4: Performed $2,100 of consulting services on account.
5: Paid $300 of repair expenses.
6: Received $800 from clients who were previously billed in item 4.
7: Paid $500 on account to the supplier of office furniture in item 3.
8: Received a $150 electric bill, to be paid next month.
9: Parker withdrew $600 from the business.
10: Received $250 in cash from clients for consulting services rendered.
Instructions
a. Arrange the following asset, liability, and owner’s equity elements of the accounting equation: Cash, Accounts Receivable, Office Furniture, Van, Accounts Payable, Investments/Withdrawals, and Revenues/Expenses. (See Exhibit 5)
b. Record each transaction on a separate line. After all transactions have been recorded, compute the balance in each of the preceding items.
c. Answer the following questions for Parker.
(1) How much does the company owe to its creditors at month-end? On which financial statement(s) would this information be found?
(2) Did the company have a “good” month from an accounting viewpoint? Briefly explain.
5. Transaction analysis and statement.
The Balance Sheets of the General Fund and the Street and Highway Fu.pdf
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of Monroe
as of December 31, 2014, follow. These (beginning) balances have been entered in the proper
general ledger accounts, as of 1/1/2015.
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible
interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred In
flows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred in
flows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund Equity
Liabilities:
Accounts payable $9,000
Fund equity:
Fund balance—assigned for streets and
highways 180,000
Total liabilities and fund equity $189,000
3–C - This portion of the continuous problem continues the General Fund and special revenue
fund examples by requiring the recording and posting of the budgetary entries. To reduce clerical
effort required for the solution use control accounts for the budgetary accounts, revenues,
expenditures and encumbrances. Subsidiary accounts are not required. Budget information for
the City includes:
a) As of January 1, 2015, the City Council approved and the mayor signed a budget calling for
$11,250,000 in property tax and other revenue, $9,300,000 in appropriations for expenditures,
and $1,700,000 to be transferred to two debt service funds for the payment of principal and
interest. Record the budget for the General Fund and post to the ledger.
b) Also as of January 1, 2015, the City Council approved and the mayor signed a budget for the
Street and Highway Fund that provided for estimated revenues from the state government in the
amount of $1,068,000 and appropriations of $1,047,000. Record the budget and post to the
ledger.
4–C. Part 1. General Fund Transactions
Required:
a. Record journal entries for the following transactions for FY 2015. Make any computations to
the nearest dollar. Journal entry explanations are not required. Use control accounts for revenues,
expenditures and budgetary accounts. It is not necessary to reflect subsidiary ledger entries.
(1) Encumbrances of $ 17,000 for purchase orders outstanding at the end of 2014 were re-
established.
(2) The January 1, 2015, balance in Deferred Inflows – Property Taxes relates to the amount of
the 2014 levy that was expected to be collected more than 60 days after December 31. This
amount should be recognized as 2015 revenues..
Recording Transactions, Preparing Journal Entries, Posting to T-Accou.pdf
Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing a
Statement of Financial Position, and Evaluating the Current Ratio (P2-5) BCE Inc., Canadn's
largest communications company, provides a comprehensive and innovative suite of broadband
communications and content services to consumer, residential, business, and governme
customers in Canada. The following is BCE's (simplified) statement of financial position from a
recent year:
Assume that the following transactions (in millions of dollars) occurred in fiscal year 2021
(ended on December 31, 2021): a. Issued additional shares for $200 in cash. b. Borrowed $6,300
from creditors; due in 10 years. Long Term 300 c. Purchased additional investments for $1,500
cash; one-fifth were long-term and the rest were short-term. 1200 d. Purchased property, plant,
and equipment; paid $4,650 in cash and $850 with additional long-term bank loans. e. Lent $250
to associated companies that signed a six-month note. f. Sold short-term investments costing
$200 for $200 cash. Required: 1. Prepare a journal entry for each transaction. 2. Create a T-
account for each item on the statement of financial position and include the December 31 , 2020
balances. Post each journal entry to the appropriate T-account. 3. Prepare a trial balance as at
December 31, 2021. 4. Prepare a statement of financial position for BCE based on the T-account
ending balances at December 31, 2021. 5. Compute BCE's current ratio for fiscal year 2021.
What does this suggest about the company?.
1. (TCO B) Which of the following is not a true statement .docx
1. (TCO B) Which of the following is not a true statement regarding the government-wide financial statements? (Points : 5)
The government-wide financial statements are not required to present prior-year data.
The government-wide financial statements include a Statement of Net Assets, Statement of Activities, and Statement of Cash Flows.
The government-wide financial statements include capital assets, include infrastructure, and reflect depreciation, except for the infrastructure using the modified approach.
All of the above are true.
2. (TCO D) A donor pledged $300,000 to thefund raising drive of a local government to assist its police officers in obtaining the latest technology. The pledge was made on July 17, 2011 but was conditioned on the government raising an additional $300,000 from other donors. By the fiscal year-end of June 30, 2012, the local government had raised only $6,000 from other donors. What entry would be made for the initial pledge by the local government during the year ended June 30, 2012? (Points : 5)
Debit a receivable account and credit deferred revenues, a liability account.
No entry is required.
Debit a receivable account and credit the Fund Balance account.
Debit a receivable account and credit a revenue account.
3. (TCO D) The City of Davenport adopted the following budget for fiscal year 2012:
Anticipated Revenues:
Property Taxes $5,340,000
Licenses and Permits 523,000
Fines and Forfeits 425,000Total $6,288,000
Approved Expenditures:
General Government $2,160,000
Public Safety 2,450,000
Public Works 1,560,000
Total $6,170,000
In addition, the City reported the following actual amounts for the same fiscal year:
Revenues:
Property Taxes $5,375,000
Licenses and Permits 519,000
Fines and Forfeits 437,000
Total $6,331,000
Expenditures-Current Year:
General Government 2,175,000
Public Safety ...
Acct 567 final exam solutions 100% correct answers
Acct 567 final exam solutions 100% correct answers
Similar to Short Problem 4 1. The following transactions and events occurred in.pdf (20)
The Hills City maintains a Water and Sewer Fund to provide utility s.pdf
The Hills City maintains a Water and Sewer Fund to provide utility s.pdf
6. Entry and trial balance preparation. Lee Adkins is a portra.docx
6. Entry and trial balance preparation. Lee Adkins is a portra.docx
The following assumptions and exhibits will be used in prepa.pdf
The following assumptions and exhibits will be used in prepa.pdf
Indicate which governmental fund would most likely be used to record.pdf
Indicate which governmental fund would most likely be used to record.pdf
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
The Balance Sheets of the General Fund and the Street and Highway Fu.pdf
The Balance Sheets of the General Fund and the Street and Highway Fu.pdf
Recording Transactions, Preparing Journal Entries, Posting to T-Accou.pdf
Recording Transactions, Preparing Journal Entries, Posting to T-Accou.pdf
1. (TCO B) Which of the following is not a true statement .docx
1. (TCO B) Which of the following is not a true statement .docx
Acct 567 final exam solutions 100% correct answers
Acct 567 final exam solutions 100% correct answers
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YTD EI: $810.00
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earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they
received interest of $350 from municipal bonds and $500 from corporate bonds. Marc
contributed $2,500 to a traditional individual retirement account, and Marc paid alimony to a
prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2006). Marc and
Mikkel have a 10-year-old adopted son, Mason, who lived with them throughout the entire year.
Thus, Marc and Mikkel are allowed to claim a $2,000 child tax credit for Mason. Marc and
Mikkel paid $6,000 of expenditures that qualify as itemized deductions, and they had a total of
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schedules.) 2023 tax rates schedules.
Reference the Binary Tree below 4a. Write programming Language a.pdf
Reference the Binary Tree below
4a. Write programming Language agnostic pseudocode for Pre-Order Traversal using a non-
recursive solution (Hint: needs a call Stack)
4b. Write programming Language agnostic pseudocode for In-Order Traversal using a non-
recursive solution (Hint: needs a call Stack)
4c. Write programming Language agnostic pseudocode for Post-Order Traversal using a non-
recursive solution (Hint: needs a call Stack).
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You work 23 hours in 2 days to compile the projections, hand-deliver them to the president, and
are swiftly but graciously thanked as he departs. A week later, you find time to go over some of
your computations and discover a miscalculation that makes the projections grossly overstated.
You quickly inquire about the presidents itinerary and learn that he has made half of his speeches
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Prepare a 13 slides presentation base on the below questions. Use real-world examples, case
studies, and practical tips to enhance understanding. Keep the presentation engaging and
interactive.
Topic: Digital Security Fundamentals
1. Define digital security as the practice of protecting digital data and systems from unauthorized
access, damage, or theft.
2. Explain the significance of digital security in safeguarding sensitive information.
3. Discuss the core components of digital security, including confidentiality, integrity, and
availability.
4. Categorize computer crimes such as hacking, identity theft, and cyberbullying and Highlight
the impact of computer crimes on individuals, organizations, and society.
5. Discuss the importance of strong and unique passwords and Explain best practices for
creating, storing, and managing passwords.
6. Highlight the importance of proactive security measures and cybersecurity awareness in two
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Ralph Henwood was paid a salary of $81,800 during 20-- by Odesto Company. In addition,
during the year Henwood started his own business as a public accountant and reported a net
business income of $70,000 on his income tax return for 20--. Compute the following:
a. The amount of FICA taxes that was withheld from his earnings during 20-- by Odesto
Company.
b. Henwood's self-employment taxes on the income derived from the public accounting business
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QUESTIONS [90 MARKS] 1.1 Communication is one of the fundamental values of any
organisation, although it would be more accurate to say that effective communication is what all
organisation deems critical to its success. It is the act of transmitting information between
individuals. Briefly describe communication in relation to information systems. Using examples
explain different types of communication technologies and discuss types of networks used for
communication. (20) 1.2 With the aid of a diagram and examples, discuss any four types of
physical transmission media with their advantages and the disadvantages, of each media type.
(20) 1.3 As a companys needs grow through expansion or acquisitions, it expands its computer
networks. Companies continue to add new technologiesWeb pages, intranets, and Internet
linksas they expand their business worldwide. These global enterprises compete internationally.
Over time, it becomes almost impossible for IT staff or managers to remember all the
interconnections, and increasingly difficult for them to maintain a computer network that
contains tens of thousands of devices. As a result, IT managers and system administrators rely
on systems management tools to automate common tasks, provide troubleshooting information,
and prevent problems. Discuss the term Systems management and explain how it helps when a
company expands its network (20) 1.4 Customer support relationship isnt the only area that need
a service level agreement. Service level agreement exists not only between support and
customers, but also between different levels and with external vendors and service providers
Using a diagram, illustrate possible service level agreements (20) 1.5 Assuming you had multiple
users contacting you with urgent problems which they all deemed to be priority, what type of
rules would you apply to priorities call?.
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