Do the following, attached the link to login for the book and the ACFR LINK TOo :
Chapter 9
- Exercise 9-2.
- Continuing Problem (questions 1 through 8). Use the ACFR assigned by your professor, which you downloaded in Week 1.
Chapter 10
- Exercise 10-3.
- Continuing Problem (questions 1 through 10). Use the ACFR assigned by your professor, which you downloaded in Week 1.
- Problem 10-9.
Open the web ebook- Government and Not-for-Profit Accounting: Concepts and Practices, Enhanced eText-https://strayer.vitalsource.com/reader/books/9781119803867/epubcfi/6/4[%3Bvnd.vst.idref%3DAnavigation]!/4- login - - username
[email protected] and password - Jeannemarie75@. Please download the 2023 Annual Comprehensive Financial Report for the Town of Cary, North Carolina. I have picked the Town of Cary because their population is over 100,000 and it is not excessively large, so the ACFR is a reasonable size. LINK HERE -https://www.carync.gov/home/showpublisheddocument/31907/638374880796730000Links
ACC410 - Government and Not-for-Profit Accounting Week 6 Homework Submission Sheet Name: ___________________________________ Homework Due Points Possible Points Received Exercise 9-2 4 Continuing 8 Exercise 10-3 4 Continuing 8 Problem 10-9 8 Chapter 9: Exercise 9-2 (Questions 1 through 10), textbook pages 415–416. (Enter the letters a, b, c, or d next to the question number.) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Continuing Problem (Questions 1 through 8), textbook page 418. ACFR assigned by your professor is used for these questions. (Enter the answer to the question in the blanks provided.) 1. Activities accounted for in both internal service funds and major enterprise funds: ___________________________________________________________________________ ___________________________________________________________________________ __________________________________________________________________________ Could any of these activities have been accounted for in a general or other governmental fund? ___________________________________________________________________________ 2. How are the internal service fund activities reported in the government-wide state of net position? _________________________________________________________________ How are the internal service fund activities reported in the proprietary funds statement of net position? _______________________________________________________________ 3. Did any of the internal service funds report significant operating surpluses or deficits for the year? Yes or No: _____________________________________________________________ Were any accumulated significant net asset balances over the years not invested in capital assets? Yes or No: ___________________________________________________________ 4. Were any of the town’s enterprise funds “profitable” during the year? Yes or No: ________ If so, what has the town done with the “earnings”? ________________________________ ___________________________________________________________________________ Has the town transferred them to the general fund? Yes or No: _______________________ 5. Does the town have revenue bonds outstanding that are related to business-type activities? Yes or No: _________________________________________________________ If so, for what activities? ______________________________________________________ __________________________________________________________________________ __________________________________________________________________________ 6.Does the town’s ACFR include a statement of cash flows for proprietary funds? Yes or No: ________________________________________________________________________ Is the statement a direct or indirect basis? ________________________________________ In how many categories are the cash flows presented? ______________________________ Which of these categories resulted in net cash inflows? _____________________________ Which resulted in net cash outflows? ____________________________________________ 7.What was the total operating income? ___________________________________________ What was total net cash provided by operating activities? ____________________________ What accounts for the largest difference between these two amounts? _________________ 8. Has the town entered into any service concession arrangements? Yes or No: ____________ Which specific ones, and why? _________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ Chapter 10: Exercise 10-3 (Questions 1 through 8), textbook page 460. (Enter the type of fiduciary fund in which it is most likely the fiduciary activity should be accounted for and reported.) 1. 2. 3. 4. 5. 6. 7. 8. Continuing Problem (Questions 1 through 10), textbook page 461. ACFR assigned by your professor is used for these questions. (Enter the answer to the question in the blanks provided.) 1. Does the town maintain any permanent funds? Yes or No: ________________ If so, are they major or non-major funds? ________________________________________ For what purpose? __________________________________________________________ 2. Does the town maintain any fiduciary funds? Yes or No: ___________________ For what purpose? __________________________________________________________ 3. Does the town contribute to one or more pension plans? _________________ Are they defined benefit plans or defined contribution plans? _______________________ If defined benefit plans, are they single employer (maintained by the town itself) or multiple-employer plans? _____________________________________________________ 4. Does the town report pension expenses or expenditures? __________________ If so, in which fund or funds? ___________________________________________________ 5. Does the town report pension liabilities? _______________________________ If so, in which fund or funds? ___________________________________________________ 6. Does the ACFR indicate the actuarial value of plan assets and liabilities? ________________ Are the plans over or underfunded? _____________________________________________ 7. Does the ACFR include the financial statements of the pension plan? Yes or No: _________ Does the ACFR indicate that the pension plans issue their own reports? Yes or No: _______ Are these publicly available? Yes or No: _________________________________________ 8. Did the pension investments have a “good year”? Yes or No: ________________________ 9. Does the ACFR indicate that the town provides other postemployment benefits? Yes or No: __________ If so, what is the nature of these benefits? ____________________ How are they reported? _______________________________________________________ 10. Does the town maintain any custodial funds? Yes or No: ___________________ How many? _________________ For what purposes? _______________________________ ______________________________________________________________________________________________________________________________________________________ Problem 10-9 (Questions 1 through 7), textbook pages 464–465. 1. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 2. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 3. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 4. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 5. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 6. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ 7. Government/Proprietary fund: ___________________ or Not Applicable _______________ Fiduciary fund: ________________________________ or Not Applicable _______________ If Fiduciary fund, what type: _____________________ Justification: ________________________________________________________________ ___________________________________________________________________________ Adapted from Government and Not-for-Profit Accounting: Concepts & Practices, 9th edition, by Granof, Khumawala, and Calabrese, Wiley Publishing.