Questions about financial statements from the City of Dayton!

questions.docx

QUESTION 1

1. Using the fund statements for the Capital Improvements Fund, what amount would have been capitalized in the governmental activities for 2014?

1 points

QUESTION 2

1. The premium on bonds issued by the Capital Improvement Fund was usable by the fund.

		Usability cannot be determined from the financial statements.
		Yes, the premium was usable by the fund.
		The bonds sold by the Capital Improvement Fund were sold at par.
		No, the premium was not usable by the fund.

1 points

QUESTION 3

1. How much is being held from contractor's pay requests, pending final approval of Capital Improvement projects?

		$515,285
		$537,180
		$1,730,904
		$837,796
		Cannot be determined from the financial statements

1 points

QUESTION 4

1. The largest source of financing for the Capital Improvement Fund was:

1 points

QUESTION 5

1. What is the city's capitalization policy?

		Capitalize all assets over $1,000.
		The city does not have a capitalization policy.
		Capitalize all assets over $5,000.
		Capitalize all assets.

1 points

QUESTION 6

1. Using the appropriate note/schedule (for governmental capital assets), which of the following is true for motor vehicles for the City of Dayton?

		The city neither acquired nor disposed of any motor vehicles.
		The city disposed of more motor vehicles than it acquired.
		The schedule does not show motor vehicles separate from other equipment.
		The city acquired more motor vehicles than it disposed of.

1 points

QUESTION 7

1. How much depreciation expense was charged to the Corporate Responsibility activity?

		Cannot be determined from the annual report.
		$665,241
		$14,043,318
		$14,969,909
		$14,189,753

1 points

QUESTION 8

1. Which of the following statements is true regarding the City of Dayton's Infrastructure?

		The city IS using the modified approach regarding the depreciation of infrastructure.
		The city is NOT using the modified approach regarding the initial recording of infrastructure.
		The city IS using the modified approach regarding the initial recording of infrastructure.
		The city is NOT using the modified approach regarding the depreciation of infrastructure.

1 points

QUESTION 9

1. Which account is least likely to be found in the general ledger of Dayton's Capital Improvement Fund?

		Encumbrances
		Revenues
		Construction Work In Progress
		Expenditures

1 points

QUESTION 10

1. What amount of resources received by the Capital Improvements Fund was not usable by the fund in the current period?

		$3,917,897
		$15,704,146
		$326,704
		The amount cannot be determined from the financial statements.
		$5,081,129

1 points

QUESTION 11

1. What is the approximate age of the motor vehicles used by the governmental activities? Use the average of the range given for the useful life.

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