Impact of Government Events
Indicate how each of the following transactions impactsthe fund balance of the general fund for fund-based financialstatements, and what the impact is on the net asses balance for thegovernmental finds for government-wide financialstatements.
Fund A transfers $20,000 to Fund B. For each of the following,indicate whether the statement is true or false and, if false,explain why.
a.If Fund A is the general fund and Fund B is anenterprise fund, nothing will be shown for this transfer on thestatement of activities within the government-wide financialstatements.
b.If Fund A is the general fund and Fund B is a debtservice fund, nothing will be shown for this transfer on thestatement of activities within the government-wide financialstatements.
c.If Fund A is the general fund and Fund B is anenterprise fund, a $20,000 reduction will be reported on thestatement of revenues, expenditures, and other changes in fundbalance for the governmental funds within the fund financialstatements.
d.If Fund A is the general fund and Fund B is a specialrevenue fund (which is not considered a major fund), no changeswill be shown on the statement of revenues, expenditures, and otherchanges in fund balance within the fund financial statements.
e.If Fund A is the general fund and Fund B is aninternal service fund and this is for work done, the general fundwill report an expense of $20,000 within the fund financialstatements.
Impact of Government Events
Indicate how each of the following transactions impactsthe fund balance of the general fund for fund-based financialstatements, and what the impact is on the net asses balance for thegovernmental finds for government-wide financialstatements.
Fund A transfers $20,000 to Fund B. For each of the following,indicate whether the statement is true or false and, if false,explain why.
a.If Fund A is the general fund and Fund B is anenterprise fund, nothing will be shown for this transfer on thestatement of activities within the government-wide financialstatements.
b.If Fund A is the general fund and Fund B is a debtservice fund, nothing will be shown for this transfer on thestatement of activities within the government-wide financialstatements.
c.If Fund A is the general fund and Fund B is anenterprise fund, a $20,000 reduction will be reported on thestatement of revenues, expenditures, and other changes in fundbalance for the governmental funds within the fund financialstatements.
d.If Fund A is the general fund and Fund B is a specialrevenue fund (which is not considered a major fund), no changeswill be shown on the statement of revenues, expenditures, and otherchanges in fund balance within the fund financial statements.
e.If Fund A is the general fund and Fund B is aninternal service fund and this is for work done, the general fundwill report an expense of $20,000 within the fund financialstatements.