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The Sunshine City had the following pre-closing account balances in its General Fund as of September 30, 20XX. Debits and credits are not separated; each account had its “normal” balance. Among the expenditures recorded this year is an amount expended on supplies ordered at the end of the previous year. Assume that encumbrances do not lapse and that the City did not to make the journal entry(s) necessary to re-establish the encumbrance in the current year.  The account names and amounts  Account    Amount Cash $ 75,000 Estimated Revenues Control   5,900,000 Revenues Control   5,900,000 Appropriations Control   5,750,000 Estimated Other Financing Sources Control   250,000 Other Financing Uses Control-Transfers Out   375,000 Expenditures Control   5,375,000 Taxes Receivable   785,000 Fund Balance-Unassigned 6/1 of the prior year   610,000 Estimated Other Financing Uses Control   600,000 Vouchers Payable   135,000 Encumbrances Control   33,000 Budgetary Fund Balance — Reserve for Encumbrances   33,000 Other Financing Sources Control-Transfers In   135,000 Budgetary Fund Balance (debit)   (100,000) Required Items Prepare all entries necessary to close the General Fund of the City of Mitchell. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund for the City of Mitchell for the Year Ended September 30, 20XX. End with the ending fund balance. This is the GAAP operating statement. 

Meen County reported a combined fund balance of $980 million for all governmental funds, an increase of $110 million, or 12.64%, from the prior year. The increase is primarily due to the issuance of a general obligation bond. The bond agreement stipulated that the proceeds are to be used for road infrastructure refurbishments. The proceeds of the bond issue are reported as which fund balance classification?

Lebanon County’s general fund had the following transactions during the year: Activities and Related Amounts Activity Amount Transfer to a debt service fund $100,000 Payment to a pension trust fund 500,000 Purchase of equipment 300,000 What amount should Lebanon County report for the general fund as other financing uses in its governmental funds statement of revenues, expenditures, and changes in fund balances?

Check the fund level(s) or government-wide level where you could find this statement included in an annual comprehensive financial report (ACFR). It is possible that more than one item could be checked. The statement is “Statement of Revenues, Expenses, and Changes in Fund Net Position.”

Choose one of the following to discuss: What is the purpose of the Unrelated Business Income Tax (UBIT)? How is UBIT calculated?  Tell me about how and when a private foundation can be reclassified as a public charity. Why was this written into the law?

When using Proctorio, if you receive a warning message about a busy computer, low RAM, or a slow internet connection you should [answer1]

Calculate the program expense ratio if the following items had been correctly classified for a nongovernmental not for profit entity’s costs on its statement of activities for the current year and comment on whether the performance is good or not by evaluating the ratio: Services and Amounts Program Services Amount Fundraising $200,000 Medicine 230,000 Biomedical services 100,000 Support Activities Administrative $60,000 Information technology services 30,000

You must have the Canvas quiz open to access the Live Chat option for Proctorio.

If Congress appropriates $10 million dollars to fund the fiscal year 2026 activities within a bureau, can the bureau director immediately place an order for $8 million dollars? Tell me yes or no (and why). Also, educate me about the process that the bureau would need to go through to spend the dollars using the appropriate Federal government accounting terminology. 

The War Powers Act of 1973 was an attempt by Congress to reclaim some of its war powers from the President.   A) List the Constitutional power of Congress and the Constitutional power of the President that were at the core of this conflict. B) How successful was this attempt, and why?