Chapter 5 Case Solutions
CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS
OUTLINE
Number Topic Type/Task Status
(re: 13/e)
Questions:
5-1 Distinguishing general capital assets from fund capital assets Describe New
5-2 Capital asset disclosures Explain New
5-3 Modified approach for infrastructure Describe New
5-4 Capital lease accounting Describe 5-8 revised
5-5 Asset impairment Explain New
5-6 Use of capital projects funds Explain 5-4 revised
5-7 Encumbrances Explain Same
5-8 Construction work in progress Explain New
5-9 Multiple capital projects Explain Same
5-10
Special assessment capital projects Explain New
Cases:
5-1 Modified approach for infrastructure assets Evaluate, write 5-2
5-2 Options for financing public infrastructure Evaluate, explain New
5-3 Political versus economic factors in financing capital improvements Evaluate, explain 5-1 retitled
Exercises/Problems:
5-1 Examine the CAFR Examine 5-1 revised
5-2 Various Multiple Choice 5-2 revised
5-3 General capital assets Journal Entries Same
5-4 Capital asset disclosure statement Financial Statement 5-4 revised
5-5 Lease classification and accounting Calculate; JEs New
5-6 Asset impairment JEs; Reporting New
5-7 Special assessment financing JEs and Explain 5-6 revised
5-8 Statement of revenues and expenditures Compute; FS 5-5
5-9 Construction fund JEs & FS 5-7 revised
5-10 Capital project transactions JEs & FS 5-8 revised
CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS
Answers to Questions
5-1. General capital assets are those that are acquired with the resources of governmental funds and that are reported only in the Governmental Activities column of the government-wide financial statements. Capital assets acquired with the resources of proprietary or fiduciary funds are reported in the financial statements of those funds, as well as in the Business-type Activities column of the government-wide financial statements for
OUTLINE
Number Topic Type/Task Status
(re: 13/e)
Questions:
5-1 Distinguishing general capital assets from fund capital assets Describe New
5-2 Capital asset disclosures Explain New
5-3 Modified approach for infrastructure Describe New
5-4 Capital lease accounting Describe 5-8 revised
5-5 Asset impairment Explain New
5-6 Use of capital projects funds Explain 5-4 revised
5-7 Encumbrances Explain Same
5-8 Construction work in progress Explain New
5-9 Multiple capital projects Explain Same
5-10
Special assessment capital projects Explain New
Cases:
5-1 Modified approach for infrastructure assets Evaluate, write 5-2
5-2 Options for financing public infrastructure Evaluate, explain New
5-3 Political versus economic factors in financing capital improvements Evaluate, explain 5-1 retitled
Exercises/Problems:
5-1 Examine the CAFR Examine 5-1 revised
5-2 Various Multiple Choice 5-2 revised
5-3 General capital assets Journal Entries Same
5-4 Capital asset disclosure statement Financial Statement 5-4 revised
5-5 Lease classification and accounting Calculate; JEs New
5-6 Asset impairment JEs; Reporting New
5-7 Special assessment financing JEs and Explain 5-6 revised
5-8 Statement of revenues and expenditures Compute; FS 5-5
5-9 Construction fund JEs & FS 5-7 revised
5-10 Capital project transactions JEs & FS 5-8 revised
CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS
Answers to Questions
5-1. General capital assets are those that are acquired with the resources of governmental funds and that are reported only in the Governmental Activities column of the government-wide financial statements. Capital assets acquired with the resources of proprietary or fiduciary funds are reported in the financial statements of those funds, as well as in the Business-type Activities column of the government-wide financial statements for