MGMT 2850 Study Guide - Midterm Guide: Federal Accounting Standards Advisory Board, Governmental Accounting Standards Board, Office Supplies

• School: University of Denver
• Department: Management
• Course: MGMT 2850
• Professor: Novak Kathleen

Document Summary

The police department (a general fund department) purchased three new police vehicles. Annual depreciation on the new vehicles will be reported in the general. True or false: in the governmental fund financial statements, each fund has its own financial statements and all funds are equally important and no major funds (false). Chapter 5: the following balances are included in the subsidiary records of town a: What is the total amount of general capital assets held by town a: ,500. In 2014, riverside began work on an outdoor amphitheater and concession stand at the city"s park. It is to be financed by ,500,000 bond issue and supplemented by a. Required: prepare journal entries in the general ledger accounts for the park building capital project funds (you may ignore then entries that would also be required in the governmental activities general journal at the government-wide level).