Journals of a govern-mental fund

by | Jul 3, 2021 | Government

5–4. How does one determine whether a particular lease is a capital lease or an operating lease? What entries are required in the general journals of a govern-mental fund and governmental activities at the government-wide level to record a capital lease at its inception?

5–7. If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances and all operating statement accounts at year-end?

5–23 Multiple-Project Fund Transactions. During FY 2017, the voters of Surprise County approved construction of a $21 million police facility and an $11 million fire station to accommodate the county’s population growth. The construction will be financed by tax-supported bonds in the amount of $30 million, a $1million economic stimulus grants, and a portion of future use tax revenues. During 2017, the following events and transactions occurred.

  1. Issued $100,000 of 6 percent bond anticipation notes to cover preliminary
    planning and engineering expenses.
  2. Incurred architecture and engineering costs in the amount of $60,000. They
    were split evenly between the two projects.
  3. Entered into a construction contract for $32 million—$21 million was for
    the police facility and $11 million was related to the fire station.
  4. Issued the $30 million, 20-year 5% bonds at 101. (The premium should be
    recorded in a debt service fund. You do not need to record this entry.)
  5. Paid off the bond anticipation notes that had been outstanding 180 days.
    (Interest is an expenditure of the capital projects fund.)
  6. An invoice for $16 million was received from the contractor for a portion of
    police facility construction ($10 million) and fire station construction ($6
    million).
  7. Half of the grant funds were received in cash. The remainder is anticipated
    in 2018; however, the grantor notified the county that there is no guarantee
    that the federal government will appropriate the 2018 portion.
  8. The initial construction invoice, less 5% retainage, was paid.
  9. The fire station was completed, and a final invoice for the remaining $5million was received. All fire station construction charges incurred can be capitalized as buildings.
  10. Following inspection, the fire station invoices were paid in full.
  11. At year-end, the contractor billed the county an additional $7.5 million for the police facility; however, the police facility was incomplete.
  12. Temporary accounts were closed at year-end. Assume that the fund balances
    are all restricted.
    Required
    a. Prepare journal entries to record the preceding information in a single Surprise County Construction Fund and the governmental activities general journal at the government-wide level.
    b. Prepare a Surprise County Construction Fund balance sheet for the year ended December 31, 2017.
    c. Prepare a Construction Fund statement of revenues, expenditures, and changes in fund balances for the year ended December 31, 2017.
    d. How would these capital expenditures for the police facility and fire station appear on the Surprise County’s government-wide statements of net position and activities?

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Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.


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God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.

 

References

Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.

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