Glen Valley City has properly adopted the modified approach to account for its infrastructure assets. Which of
Question:
Glen Valley City has properly adopted the modified approach to account for its infrastructure assets. Which of the following statements is correct about
accounting for these assets on the governmentwide statement of activities?
I. Depreciation expense should be computed based on the assets’ estimated useful lives and reported under the Governmental Activities column of the city’s
statement of activities.
II. The amount of the expenditures made for the infrastructure assets except for additions and improvements should be expensed in the period incurred.
a. I only.
b. II only.
c. I and II.
d. Neither I nor II.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
Question Posted:
Students also viewed these Business questions
-
Mountain View City is preparing its government-wide financial statements for the year. As of the year-end, the city has determined the following information for its capital assets, exclusive of its...
-
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
-
A government that uses the modified approach to account for qualifying assets should report All infrastructure asset related costs for the year as expenses All infrastructure asset related costs for...
-
A spring is at rest in the vertical direction. When a 5 kg mass is placed upon the spring, the length of the spring compresses to 0 . 2 0 meters. The 5 kg mass is removed and replaced by an 8 kg...
-
What is the major problem facing Jennifer?
-
Air flows steadily in a pipe at 300 kPa, 77C, and 25 m/s at a rate of 18 kg/min. Determine (a) The diameter of the pipe, (b) The rate of flow energy, (c) The rate of energy transport by mass, and (d)...
-
What are some of the nonverbal clues to deception?
-
Floyd's Bumpers pays a transportation company to ship its product in full truckloads to its customers. Therefore, the cost for shipping is a function of the distance traveled and a fuel surcharge...
-
What roles do innovation and entrepreneurship play in technological advances and economic development? Does innovation have a better chance of catching on in a market economy or in a planned economy?
-
For which of these funds is a statement of cash flows required General Fund Internal Service Fund Governmentwide Financial Statements Yes Yes Yes b. Yes No Yes c. No No No d. No Yes Yes
-
The City of Hastings has a separately elected school board that administers the citys schools. The city council must approve the school districts budget and tax levy. Its financial results should be...
-
Distinguish between the positive and negative forms of accounts receivable confirmations. Which confirmation type, positive or negative, is considered the more reliable? Why?
-
building cash 99000 , paid 51800 for 9 years and next year 109000, with incremental borrowing rate 10% what is cost of the building?
-
What is the significance of containers in facilitating the deployment of microservices, and what criteria are considered when determining the optimal number of microservices to allocate per container?
-
You are a clinical psychologist who is conceptualizing new studies to explore Common Factors Models of psychotherapy processes and outcomes. Common Factors Models propose that there are...
-
How effective is monetary policy? Answer this question from the perspective of (1) the monetarists and (2) modern money theory. How would you judge Effectiveness?
-
You long 1000 shares of ABC at $25 a share. Assume the Regulation T rate is 40%. You send the required amount to your broker. After a week ABC jumps to $27 in the market. Show your account. What is...
-
The equation of a travelling plane sound wave has the form = 60 cos (1800t 5.3x), where is expressed in micrometers, t in seconds, and x in meters. Find: (a) The ratio of the displacement amplitude,...
-
What can you do to reduce hunger where you live? To reduce hunger globally?
-
Refer to the information given in Problems P12-23 and P12-24 for Alamo and its subsidiary, Western Ranching. Assume that the Australian dollar (A$) is the functional currency and that Alamo uses the...
-
Refer to the information given in Problems P12-23 and P12-24 for Alamo and its subsidiary, Western Ranching. Assume that the Australian dollar (A$) is the functional currency and that Alamo uses the...
-
Refer to the information in Problem P12-23. Assume the U.S. dollar is the functional currency. In P12-23 Additional Information 1. Western Ranching uses average cost for cost of goods sold. Inventory...
-
Design and assign proper IP addresses per the topology to all NIC cards on the routers, switches, and PCs. Use efficient subnets. IPv4 or IPv6 can be used. Label the NIC cards in Packet Tracer with...
-
3. (a) Determine the general solution of the differential equation dy dx cosx + ysin.x = e cosx giving your answer in the form y = f(x) Given that y 3 when x = 0 (b) determine the smallest positive...
-
I really need help with number 13. Below is my scanner.l file and my tokens.h file, it will not compile the way it needs to. I need to know how to format it in my scanner.l file under char_literals. ...
Study smarter with the SolutionInn App