all requirements are n the folder, around 1.9k words, and also the grading criteria

– Essay Answers | www.essayanswers.org

The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.

Assignment Question(s):(Marks. 10)

1. These transactions relate to Metro Bus, which provides transportation services to residents of Parker County. Metro Bus is accounted for as a County Enterprise Fund. Make journal entries to account for the following 2013 transactions in the Enterprise Fund.

a.On April 1, 2013, Metro borrows $3,000,000 by issuing 10-year revenue bonds. Bond principal is to be paid back in 20 equal semi-annual installments, starting October 1, 2013, together with interest of 6% a year on the unpaid principal.

b.On July 1, Metro pays cash for 10 buses costing $150,000 each. Metro also pays cash for land costing $100,000 and a building costing $900,000 to house its repair activity.

c.On July 1, Metro invests $200,000 of unused cash in a Certificate of Deposit (CD).

d.Metro pays cash of $50,000 to acquire an inventory of repair parts.

e.Metro collects bus fares of $900,000, which it deposits in the bank.

f.Metro sends an invoice for $10,000 to the County Social Services Agency for taking senior citizens on bus tours. The Agency receives appropriations from the General Fund.

g.Metro pays salaries of $500,000 to its bus operators, mechanics, and administrative staff.

h.The CD (transaction c.) matures and Metro receives a check for $203,000.

i.On October 1, 2013, Metro pays the first installment of principal and interest on the revenue bonds in transaction a.

To prepare financial statements at December 31, 2013, Metro makes adjusting journal entries for the following items:

j.To record six months’ depreciation on the buses and building bought in transaction b. Estimated lives are: buses – 10 years; building – 30 years.

k.To record consumption of repair parts. A year-end physical inventory shows repair parts on hand amounting to $8,000. (See transaction d.)

l.To accrue for unpaid salaries of $12,000.

m.To accrue interest on the revenue bonds outstanding at December 31, 2013. (See transactions a. and i.)

2. Explain Financial Reporting Objectives of federal government

3. Malaz Township decides to construct a new city hall. Based on the following data, prepare a statement of revenues, expenditures, and changes in fund balance for Malaz Township’s Capital Projects Fund. All transactions occur within the calendar year 2013.

a.The Fund starts and ends the year with a zero fund balance.

b.The Fund’s financing sources for the city hall project were: long-term bond proceeds – $6 million; operating transfer from the General Fund – $2 million; state grant – $1.5 million; interest from the temporary investment of cash – $90,000.

c.Total outlays for constructing the new city hall were: construction costs – $8,250,000; design and construction supervision fees – $600,000.

d.City laws require that, whenever bonds are used, any remaining difference between total financing sources and construction costs must be transferred to the Debt Service Fund.Therefore, $740,000 was transferred to the Debt Service Fund.

Answer

Q4. The following data comes from the 2013 financial statements of the Village of Matthews. Although presented in summarized format, the balance sheet debits and credits are equal and the operating statement information is complete.

General Fund – Balance Sheet Elements

Cash$1,200,000

Short-term investments405,000

Property taxes receivable – delinquent282,000

Due from other funds58,000

Accounts payable and other accrued liabilities900,000

Assigned fund balance 90,000

Unassigned fund balance935,000

General Fund – Operating Statement Elements

Revenues, including property taxes of $6,125,000$8,350,000

Expenditures (total)7,510,000

Transfer to Debt Service Fund400,000

Excess of revenues and other sources over expenditures

and other uses440,000

Debt Service Fund – Balance Sheet Elements

Cash and cash equivalents230,000

Restricted fund balance230,000

Debt Service Fund – Operating Statement Elements

Debt service expenditures:

Principal100,000

Interest200,000

Operating transfer from General Fund400,000

Excess of revenues and other sources over

expenditures and other uses100,000

Required: Calculate the following ratios for the Village of Matthews:

a.Current ratio – General Fund

b.Quick ratio – General Fund

c.Property tax receivable delinquency rate

d.Budgetary cushion for the General Fund (Assume all assigned fund balance is available.)

e.Debt service burden

f.Excess of revenues and other sources over expenditures and other uses, as a percentage of revenues – Combined, General Fund and Debt Service Fund (Hint: The transfers out and in cancel each other. Therefore, use the revenues for the denominator.)

Answer:

I would like you guys to begin thinking about your topic for your first paper.

The final paper should be a minimum of 6 pages and you should have at least 6 references/sources in your bibliography. You may chose any topic that concerns the visual arts but you should approach the subject from ONE of the following methodologies: 1) biography (art as understood by looking to the artist’s life) 2) formal/stylistic analysis (art understood through the purely visual elements) 3) iconographical analysis (art understood through how meaning is constructed) 4) contextual analysis (art as a product of the social, cultural, historical environment).