Governmental Accounting

Question 1

budgetary accounting

Answer 1

emphasized to control spending/budgeting

revenues are debited
expenditures are credited

DR Estimated Revenue Control
DR Estimated Other Financing Sources (transfer in)
CR Appropriations Control
CR Estimated Other Financing Uses (transfer out)

Budgetary Control is a plug

Question 2

activity

Answer 2

emphasizes flow of current financial resources

Question 3

encumbrance

Answer 3

used to record purchase orders

Question 4

derived tax revenue

Answer 4

taxes imposed on or derived from exchange transactions

sales tax, income tax

Question 5

imposed non-exchange revenue

Answer 5

taxes imposed on non-exchange transactions

fines, property tax

Question 6

government mandated non-exchange revenue

Answer 6

provides funds and mandates activities by another level of government (environmental cleanup)

Question 7

voluntary non-exchange transactions

Answer 7

government receives resources and does not provide equal value (grant agreements)

Question 8

revenue (activity) JE

Answer 8

DR Tax Receivable - Current
CR Revenues
CR Allowance for Uncollectible - Current

DR Cash
CR Tax Receivable

DR Tax Receivable - Delinquent
CR Tax Receivable - Current

DR Revenues
DR Allowance for Uncollectible - Current
CR Allowance for Uncollectible - Delinquent