This solution provides information regarding the classification of different types of transactions and how the effect is different in governmental versus for-profit entities. It discusses enterprise funds of a governmental entity and how tuition and fee revenue is recognized. The solution also discusses the need for a worksheet approach when transitioning from fund financial statements to entity wide governmental statements.
Can you please verify my question #1, and answer #2-5 for me? 1. Can you identify the correct classification in the cash flow statement of the following cash transactions if they were transactions of a government enterprise fund in the first column, and if they were cash transactions of a business firm in the second column?