Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

CPA: FAR > Chapter 8 Journal Entries > Flashcards

Chapter 8 Journal Entries Flashcards

1
Q

Record Budget

A

DR: Estimated Revenue Control
DR: Estimated Other Financing Sources
DR: Budgetary Control (negative/deficit)
CR: Appropriations Control
CR: Estimated Other Financing Uses
CR: Budgetary Control (positive/surplus)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Reverse Budget

A

DR: Appropriations
DR: Estimated Other Financing Uses
DR: Budgetary Control
CR: Estimated Revenue Control
CR: Estimated Other Financing Sources
CR: Budgetary Control
Reverse for exact same amount as what was recorded

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Accrual of Real Property Taxes Levied and Provide for Estimated Amount of Uncollectible Accounts

A

DR: Real Property Taxes Receivable - Current
CR: Revenue - Property Taxes
CR: Allowance for Uncollectible Taxes - Current

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Collection of Property Taxes

A

DR: Cash
CR: Real Property Taxes Receivable - Current

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Reclassify Taxes Receivable to Delinquent

A

DR: Property Taxes Receivable - Delinquent
CR: Property Taxes Receivable - Current

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Reclassify Allowance for Uncollectible Taxes to Delinquent and Adjust Revenues to Accrue Available Amounts

A

DR: Revenue - Property Taxes
DR: Allowance for Uncollectible Taxes - Current
CR: Allowance for Uncollectible Taxes - Delinquent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

GRaSPP Purchase of Capital Item

A

DR: Expenditure - Capital Outlay
CR: Vouchers Payable/Cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

GRaSPP Principal Payment on Non-Current Debt

A

DR: Expenditure - Debt Service
CR: Cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

GRaSPP Purchase Item: Purchase Method

A

DR: Expenditure
CR: Vouchers Payable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

GRaSPP Use of Item: Purchase Method

A

NO ENTRY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

GRaSPP On Hand at Year End: Purchase Method

A

DR: Supplies Inventory
CR: Nonspendable Fund Balance - Inventory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

GRaSPP Purchase Item: Consumption Method

A

DR: Supplies Inventory
CR: Vouchers Payable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

GRaSPP Use of Item: Consumption Method

A

DR: Expenditure
CR: Supplies Inventory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

GRaSPP On Hand at Year End: Consumption Method

A

NO ENTRY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

GRaSPP Routine Transfer Between Funds

A

DR: Other Financing Uses
CR: Cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

GRaSPP Receipt of Proceeds from Bond Issue

A

DR: Cash
CR: Other Financing Uses - Bonds Issued

17
Q

GRaSPP Set Up Encumbrance

A

DR: Encumbrances
CR: Budgetary Control

18
Q

GRaSPP Reverse Encumbrance and Record Expenditures

A

DR: Budgetary Control
CR: Encumbrances
DR: Expenditures
CR: Vouchers Payable/Cash

19
Q

GRaSPP Close Encumbrance at Year End and Reserve the Fund Balance for Outstanding Purchase Orders

A

DR: Budgetary Control
CR: Encumbrance
DR: Unassigned Fund Balance
CR: Fund Balance, Committed

20
Q

GRaSPP Receipt of Item that Encumbrance was Created for Last Year

A

DR: Expenditure - prior year
CR: Vouchers Payable

21
Q

Fair Value Hedge - Interest Rate Swap

A

DR: Deferred - Interest Rate Swap
CR: Deferred Inflows of Resources

22
Q

Cash Flow Hedge - Forward Contract

A

DR: Deferred Outflows of Resources
CR: Forward Contract

23
Q

GRaSPP - Transfer from one GRaSPP Fund to Another

A

DR: Cash
CR: Interfund Transfers from the General Fund

24
Q

GRaSPP - Investment Income

A

DR: Cash
CR: Revenue - Investment Income

25
Q

GRaSPP Unrestricted Gov’t Grant on Capital Projects Fund

A

DR: Cash
CR: Revenue

26
Q

GRaSPP Restricted Gov’t Grant on Capital Projects Fund

A

DR: Cash
CR: Revenue Collected in Advance

27
Q

GRaSPP Recognize Revenue Restricted (when spent) by a Cost Reimbursement Contract on Capital Projects Fund

A 
DR: Expenditure
CR:          Vouchers Payable/Cash
DR: Revenue Collected in Advance
CR:         Revenue
**Spend it to Earn it**
28
Q

Short Term Financing to be Repaid With Taxes or Revenue

A

DR: Cash
CR: Tax or Revenue Anticipation Note Payable

29
Q

SE Operating Revenues

Internal Service Funds

A

DR: Cash
CR: Billings to Other Departments

30
Q

SE Contributions

Enterprise Fund

A

DR: Capital Assets
CR: Capital Contributions

31
Q

PAPI Additions

Pension Trust

A

DR: Cash
CR: Additions - Employer Contributions

32
Q

SEPAPI Expenses

A

DR: Expense (Not Expenditure)
CR: Cash

33
Q

PAPI Collections and Retaining of Fee

Agency Fund

A

DR: Cash
CR: Due to Other Units
CR: Due to County General Fund [fee]

CPA: FAR (70 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions