Attached is a list of unrelated transactions that would affect various funds of a state or local government entity.

Provided below is a list of governmental funds and nonfund accounts used by governmental entities to record these types of transactions. LIST OF GOVERNMENTAL FUNDS AND NONFUND ACCOUNTS GF General Fund SRF Special Revenue Fund CPF Capital Projects Fund DSF Debt Service Fund GCA/GLTL General Capital Assets and General Long Term Liabilities

REQUIRED: For each of the transactions attached, and using the list provided above, indicate which governmental fund(s) or nonfund accounts would be affected by the transaction. If none apply, indicate this by using NONE OF THE ABOVE. Provide a brief explanation for your answer, if necessary.

TRANSACTIONS THAT AFFECT VARIOUS GOVERNMENTAL FUNDS OR NONFUND ACCOUNTS OF A STATE OR LOCAL GOVERNMENT

(a) Revenues not restricted as to use.

(b) Revenues restricted for a designated purpose.

(c) Purchase of equipment, furniture, and fixtures from unrestricted resources that are minor in amount.

(d) Payment of short term debt and interest incurred for the construction of a county building.

(e) Payment of matured long term debt and interest.

(f) Construction of a major facility for general government use.

(g) Charges for services to citizens of the governmental entity for restricted government use.

(h) Proceeds of long term debt issuances for construction of a general government building.

(i) Depreciation of general government long term assets.

LIST OF GOVERNMENTAL FUNDS AND NONFUND ACCOUNTS

• GF General Fund
• SRF Special Revenue Fund
• CPF Capital Projects Fund
• DSF Debt Service Fund
• GCA/GLTL General Capital Assets and General Long Term Liabilities

UNRELATED TRANSACTIONS

(a) Revenues not restricted as to use.

(b) Revenues restricted for a designated purpose.

(c) Purchase of equipment, furniture, and fixtures from unrestricted resources that are minor in amount.

(d) Payment of short term debt and interest incurred for the construction of a county building.

(e) Payment of matured long term debt and interest.

(f) Construction of a major facility for general government use.

(g) Charges for services to citizens of the governmental entity for restricted government use.

(h) Proceeds of long term debt issuances for construction of a general government building.

(i) Depreciation of general government long term assets.

TO FIND:

Transactions given to be segregated as per respective government funds depending on relevance on how and which fund will be affected by those transaction ,with brief explanation

SOLUTION:

Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. It emphasizes accountability rather than profitability, and is used by Nonprofit organizations and by governments.Funds are usually created for certain purpose in terms of accountability. There are various fund for specific or general purpose,some of which are listed above

(a) Revenues not restricted as to use:

This will affect the general fund since this is a primary fund used by a government entity. This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. The activities being paid for through the general fund constitute the core administrative and operational tasks of the government entityThe general fund, where a government accounts for everything not reported in another fund

(b) Revenues restricted for a designated purpose.:

This will affect Specific Revenue fund.A special revenue fund is an account established by a government to collect money that must be used for a specific project. Special revenue funds provide an extra level of accountability and transparency to taxpayers that their tax dollars will go toward an intended purposeThe Special Revenue Fund indicates funds that are restricted for specific purposes because of legal binding on the state or local government.

(c) Purchase of equipment, furniture, and fixtures from unrestricted resources that are minor in amount.

This will affect General capital asset. General capital asset means purchases recorded as expenditures rather than fund assets and Sales recorded as other financing sources. Here, capital assets like equipment ,furnitureand fixtures are purchased for minor amount for use by government treated as expense

(d) Payment of short term debt and interest incurred for the construction of a county building.

This will affect Debt service fund. A debt service fund is a cash reserve that is used to pay for the interest and principal payments on certain types of debt.

(e) Payment of matured long term debt and interest.

This will affect Debt service fund. A debt service fund is a cash reserve that is used to pay for the interest and principal payments on certain types of debt.

(f) Construction of a major facility for general government use.

This will affect capital project fund. Capital Projects Fund means a fund used to account for financial resources to be used for the acquisition or construction of major capital facilities other than those financed by resources from proprietary type activities which are accounted for in enterprise funds or those financed with funds held by the local authority.

(g) Charges for services to citizens of the governmental entity for restricted government use.

This will affect General Long term liability. It means Issuance of debt recorded as other financing sources and retirement of debt recorded as expenditures or other financing uses.

(h) Proceeds of long term debt issuances for construction of a general government building.

This will affect General Long term liability. It means Issuance of debt recorded as other financing sources and retirement of debt recorded as expenditures or other financing uses.

(i) Depreciation of general government long term assets.

This will affect General capital asset. General capital asset means purchases recorded as expenditures rather than fund assets and Sales recorded as other financing sources. Here, capital assets like equipment ,furnitureand fixtures are purchased for minor amount for use by government treated as expense. Depreciation associated to that asset will also be included here.