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Answered) ACCOUNTING Goverment Hint: The fund must exceed 10% of government and 5% of total for any catagory. If so, then it is a major fund. You must do the...


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Forest city  questions : implment GAAP .

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  • Question:  Does it the same % with GAPP?  Blue color only correct answers and % are correct?
  • Could you please explain how divide %? I want to verify answer is the same as yours. Answer the questions for each boxes.

ACCOUNTING Goverment Hint:
The fund must exceed 10% of government and 5% of total for any catagory. If so, then it is a major fund. You
must do the calculations, enter the results. Then just answer yes or no for the major fund question. Do this for
each of the 3 funds. I looked this but do not get this. Ch. 2, Solutions, Exercise 2-20 (Cont’d) Calculation of Major Fund Thresholds Gas Tax Revenue Fund Housing and Urban Forest City Development Fund Library Fund >5% of >5% of >5% of >10% of
Governmental
Funds Governmental and
Enterprise
Funds >10% of
Governmental
Funds Governmental and
Enterprise
Funds >10% of
Governmental
Funds Governmental and
Enterprise
Funds Assets Yes-10.3% No-4.6% Yes-11.2% Yes-5.01% No-6.5% No-2.9% Liabilities No-8.4% No-4.9% No-9.8% Yes-5.7% No-0.0% No-0.0% Revenues No-9.0% No-4.6% Yes-11.1% Yes-5.7% No-7.8% No-4.0% Expenditures No-8.3% No-4.6% No-8.7% No-4.9% No-8.0% No-4.5% Financial
Statement
Elements 1. Question: Is this this the same % with GAPP? Blue color only
correct answers and % are correct?
2. Could you please explain how divide this %? Need correct
answer please. I want to verify answer is the same as yours.

 


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