Construction of Recreational Facilities Essay Assignment
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Construction of Recreational Facilities Essay Assignment
Question Description
Prepare funds statements and government-wide statements
The newly created State Recreation District established the following funds, each of which is a separate fiscal and accounting entity:
A general fund to account for general operating resources that are unassigned
A capital projects fund to account for the proceeds of bonds issued to finance the construction of recreational facilities
3) A debt service fund to account for resources set aside to pay principal and interest on the bonds
An internal service fund to account for the operations of an equipment repair department that will provide services to several departments that are accounted for within the general fund.
A trust fund to entail the receipt of resources from contributions made by private individuals or organizations.
A summary of the district’s first‐year transactions follows (all dollar amounts in millions).
It levies taxes of $400, of which it collects $360. It expects to collect the remaining $40 shortly after year‐end. The taxes are unassigned as to how they may be used.
It incurs $225 in general operating expenditures, of which it pays $170.
It issues long‐term bonds of $450. The bonds must be used to finance the acquisition of recreational facilities. Accordingly, they are recorded in a restricted fund—the capital projects fund.
The district acquires $450 of recreational facilities using the resources available in the capital projects fund.
The bond indenture (agreement) requires that the district periodically commit funds to repay the principal of the debt. The district transfers $50 from the general fund to the fund specially created to account for resources restricted for debt service. The District paid $27 interest on the debt.
$5 was transferred from the general fund to the repair service, which is accounted for in an internal service fund. The center acquires $10 of equipment, paying $5 cash and giving a long‐term note of $5 in exchange. Internal service funds are accounted for on a full accrual basis; they focus on all economic resources. Hence, they recognize both long‐term assets and long‐term obligations.
The repair service bills the district’s other departments $16 and collects the full amount in cash. The other departments are all accounted for in the general fund. The service incurs cash operating expenses of $12 and recognizes $1 of depreciation.
A wealthy businessman donated $50 in marketable securities to the District to establish a fund to help financially distressed park maintenance retiree. Per the trust agreement only the interest and dividends from the securities can be distributed to recipients. The recipients will be selected by a committee of board members from the businessman’s company.
The district received $5 in interest from the marketable securities. The district paid $4 from the trust to cover the living expense of a group of park retirees who were selected by the committee.
Requirement:
Prepare journal entries to record the transactions in individual funds. Governmental funds are accounted for on a modified accrual basis; proprietary funds on a full accrual basis.
Based on the entries, prepare for the governmental funds a balance sheet and a statement of revenues, expenditures, and changes in fund balances.
Prepare for the one proprietary fund (the internal service fund), a statement of net position (a balance sheet), and a statement of revenues, expenses, and changes in fund net position.
Prepare government‐wide statement of net position (balance sheet) and a government‐wide statement of activities (statement of revenues and expenses). These statements should consolidate all funds, including the internal service fund, and should be on a full accrual basis. Assume that the district charged depreciation of $40 on recreational facilities (in addition to the amount charged in the internal service fund). Although internal service funds are categorized as proprietary funds, they typically provide most of their services to governmental activities. Hence, in the government‐wide statements, they are generally consolidated with the governmental funds rather than with enterprise funds.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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