Government Cash Flow Statement Flashcards
Which method is allowed
Direct only.
How many sections are there
1- Operating
2- Capital and related Financing (Borrowed money to purchase Capital assets (Growth
3- Noncapital Financing (Borrowed money for paying bills or deficits (Non-Growth)
4- Investing (Loan to other, Investment in debt or equity. Interest and dividend income is also investing. Interest paid as well.)
Which fund has the SCF
Proprietary funds only. Internal Service Fund and Enterprise Fund
City of Mississauga received interest on long-term investment in bonds.
Investing Inflow
City of Mississauga levied property taxes to subside its ongoing operations of Water and Sewer Fund
Non-Capital Financing Inflow
City of Mississauga enterprise fund earn interest of $25,000 on its investments
Investing Inflow
Lee Township was awarded operating grant to subsidize the ongoing operations of its Water and Sewer Fund
Non-Capital Financing
Cash inflow to fund the construction of City Hall
None. It’s a General Fund
Lee Township’s Water and Sewer Fund paid for the construction costs for the improvement of Water and Sewer System
Capital and related Financing
Bond Proceeds of $60,000 to be used to buy long lived assets
$60,000 Capital and related Financing Inflow
Bond Proceeds of $60,000 to be used to pay emergency payments, Payroll and Bills
$60,000 Non-Capital Financing
Purchase of long-lived assets for $30,750 from the $60,000 bond Proceeds
$(37,750) Capital and related Financing Outflow
Accrual basis revenue received from customers was $85,000 beginning accounts receivable was $40,000 and ending receivable were 70,000
$55,000 Operating Cash Inflow
Transfer made to other funds amounted to $6,200
($6,200) Non-Capital Financing Cash Outflow
Interest paid on bonds used to finance capital assets amounted to $5,000
($5,000) Capital and Related Financing Cash Outflow