Internal Service Fund. Jaffry County operates a Risk Management Pool as an internal service fund. The Risk
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a. How would the General Fund and the Risk Management Pool record the assessments made by the Risk Management Pool for the services provided?
b. How would the assessments be recorded at the government-wide level?
c. When reporting at the government-wide level, does it make a difference whether the Risk Management Pool or the General Fund reports the increase in the value of the county office building? Explain your answer.
d. Since it is not an objective of the Risk Management Pool to hold capital assets and since the Jaffry County office building is a general capital asset, the county would like to remove the Building account from the Risk Management Pool’s ledger. What journal entry(ies) would you recommend to remove the Building account from the Risk Management ledger? Justify your answers.
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Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
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