Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Ashford acc 380 week 4 assignment government wide statements, net assets, & journals
1. ASHFORD ACC 380 Week 4 Assignment
Government-Wide Statements, Net Assets, &
Journals
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Government-Wide Statements, Net Assets, & Journals. Complete the following
activities and submit your answers to your instructor in a Word document
formatted to proper APA specifications. Include any relevant supporting
computations and explanations.
Part One.
Review the financial information pertaining to the City of South Pittsburgh in
problem 8-10 on page 257 of your text. Prepare, in journal form, worksheet
adjustments for each of the situations outlined.
PartTwo:
Review the financial information pertaining to Southern State University in
problem 9-5 on pages 294 and 295 of your text. Prepare, in good form, a
Statement of Net Assets for Southern State University as of June 30, 2012.
Part Three:
Review the financial transactions pertaining to the Cancer Research Center in
problem 10-8 on pages 326 and 327.
1. On the books of Cancer Research Center, record the pledge on January 1 in
the temporarily restricted asset class, assuming the appropriate discount rate is
5% on an annual basis. The appropriate discount factor is 4.33.
2. Record the increase in the present value of the receivable in the temporarily
restricted net asset class as of December 31.
3. Record the receipt of the first $30,000 on December 31 and the payment to the
researcher. Indicate in which asset class (unrestricted, temporarily restricted)
each account is recorded.
