What exception to the normal expenditure recognition criteria is associated with debt service funds and what is

Question:

What exception to the normal expenditure recognition criteria is associated with debt service funds and what is the justification for this exception?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Advanced Accounting

ISBN: 978-1118098615

5th Edition

Authors: Debra C. Jeter, Paul Chaney

See More Books

Question Posted: Mar 16, 2015 12:16 PM

See More Questions

Explain the relationship between Debt Service Funds and Capital Projects Funds.
What criteria must be met for accepting any capital expenditure proposal with respect to minimum rate of return on investment?
1. Revenues in a Debt Service Fund are recognized when a. They are collected in cash. b. They are measurable and available. c. They are measurable and earned. d. Debt service payments are due. 2....
Based on the book values in the balance sheet of the company presented below, answer the following questions: Assets Liabilities and Shareholders Equity Asset (book value) $ 75 Debt $ 25 Equity $ 50...
What amount received on January 13 is equivalent to $1000 received on the preceding August 12 if money can earn 9.5%?
Krystal suggests that the tax code allowing for a stepped - up basis ( a code section that allows heirs to receive inherited property with a basis that equals FMV at the time of death ) is flawed and...
Some of the mathematical steps in Example 5.2 are omitted. Derive Eqs. (5.14), (5.17), and (5.18). Data From Example 5.2:- Figure 5.10:- Data From Eqs. 5.14 , 5.17, and 5.18:- Herbicides such as...
Multiple Choice Questions The following questions deal with confirmation of accounts receivable. Choose the best response. a. The negative form of accounts receivable confirmation request is useful...
Bobby Collins decided to start a dental practice. The first five transactions for the business follow. 1. Collins invested $45,000 cash in the business. 2. Paid $15,000 in cash for equipment. 3....
Green Planet, Inc., a manufacturer of air filter systems for industrial facilities, is considering the addition of a new system to its current product line. The following data has been forecasted: ...
Are all major capital facilities acquisitions accounted for in a capital projects fund? Explain.
Identify and describe four types of interfund activities.
In Problem find the indicated quantity, given A = Pe rt . A = ?; P = $4,750; r = 6.8%; t = 3 years
Please explain the reason of each option. The issuer of a bond that fails to pay the promised future cashflows in full can be seen as an example of: a) None of the listed options b) The issuer of the...
A digitally recorded compact disc has a selling price of $ 1 8 . 0 0 . The markup rate is 3 5 % . Find the cost of the CD .
Ecosystem management Improving the efficiency of farmland can help meet the world's growing demand for food, while minimizing the loss of natural habitats and forests. Toward this goal , the poultry...
Jenelle wants to invest $ 9 2 0 0 in a savings account that pays 7 . 2 % simple interest. How long will it take for this investment to double in value? Round your answer to the nearest tenth.
Bank #1: CIBC Bank #2: Tangerine Bank You will play the role of an Account Manager at each of the two banks (financial institutions) assigned to your group. The two financial institutions are located...
Why does Adobe allow the free download of Acrobat Reader?
A crop-dusting plane flies over a level field at a height of 25 ft. If the dust leaves the plane through a 30 angle and hits the ground after the plane travels 75 ft, how wide a strip is dusted? See...
The American Accounting Association Ethical Decision-Making Model: (a) Has strong elements of consequentialism. (b) Includes the rights-and-duties approach. (c) Requires the decision makers own...
What is a partnership dissolution? Does dissolution automatically necessitate the cessation of business and the liquidation of partnership assets?
What is a partnership dissolution? Does dissolution automatically necessitate the cessation of business and the liquidation of partnership assets?
What is a partnership dissolution? Does dissolution automatically necessitate the cessation of business and the liquidation of partnership assets?
After you've completed this week's assigned reading, watch the video below. Next, respond to the Discussion questions underneath. Your first post should answer those questions and should be made by...
Factorize (x4 - 20x + 100)
Paragraph discussing food insecurity in the United States. What agencies in the federal government play an important role in ameliorating this situation? What groups of people are at particular risk?

What exception to the normal expenditure recognition criteria is associated with debt service funds and what is

Question:

Step by Step Answer:

Unpaid interest on bonds payable incurred since the last payment ...View the full answer

Advanced Accounting

Students also viewed these Accounting questions