
Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
Edition 17ISBN: 978-1259564239
Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
Edition 17ISBN: 978-1259564239 Exercise 8
State whether each of the following items should be classified as taxes, licenses and permits, intergovernmental revenues, charges for services, fines and forfeits, or miscellaneous revenue in a governmental fund.
a. Sales and use taxes levied by the government.
b. Payments by citizens for use of the city pool.
c. Building permits to construct a deck at a residence.
d. Traffic violation penalties.
e. Federal community development block grant.
f. Donation of bonds by a wealthy resident.
g. Charges to a local university for extra city police protection during sporting events.
h. Barbers and hairdressers' registration fees.
a. Sales and use taxes levied by the government.
b. Payments by citizens for use of the city pool.
c. Building permits to construct a deck at a residence.
d. Traffic violation penalties.
e. Federal community development block grant.
f. Donation of bonds by a wealthy resident.
g. Charges to a local university for extra city police protection during sporting events.
h. Barbers and hairdressers' registration fees.
Explanation
Classification of estimated revenues:
A...
Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
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