Using only the governmental-type funds, indicate which would be used to record each of the fol- lowing transactions and events: gf general fund srf special revenue fund dsf debt service fund cpf capital projects fund pf permanent fund ___

1. The city transferred cash to the fund used to accumulate resources to pay bond principal and interest. ___

2. The city received its share of a state sales tax that is legally required to be used to finance library operations. ___

3. The city sent property tax bills to homeowners to help pay for day-to-day operating costs. ___

4. The city paid for five fire engines, using resources accumulated in a fund to pay for capital assets. ___

5. The city received a grant from the state to build an addition to the city hall. ___

6. The city received the proceeds of general obligation bonds to finance the construction of a new police station. ___

7. The mayor was paid his monthly salary. ___

8. Expenditures for the operation of the police department were recorded. ___

9. Parks admissions fees, dedicated for use in day-to-day maintenance of the city park system, were collected. ___

10. The city paid a contractor who had completed a report on the potential for improving police deployment as a way to reduce the crime rate. ___

11. The city workers were paid their weekly salaries. ___

12. The city retired some of its outstanding bonds, using money accumulated for that purpose. ___

13. A federal grant was received to help pay for the cost of constructing the new city hall. ___

14. The city received a donation from a taxpayer with the stipulation that it be invested and kept in perpetuity, so that the income from the investments could be used to buy library books. ___

15. The city received income from the investments made in the previous activity.

Answer rating: 100% (QA)

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