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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 342 / 352

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© D.L. Crumbley

1.

You have the following data for a city in the southwest. Calculate the quick ratio. Is this ratio favorable or unfavorable?

Current Liabilities$28 million

Cash$27 million

Investments (current)$36 million

Accounts Receivables$12 million

Due from other funds$2.5 million

2.

You have the following information about a mid-west city. Calculate the ratios of fund balance to revenues and determine if they are favorable or unfavorable.

General Fund$62 million

Unreserved Fund$54 million

General Fund Revenues$401 million

3.

You determine the following data about a local government in the southeast. Determine the ratios of unreserved fund balance and reserved fund balance to total revenues. Are these ratios favorable?

Revenues from Property Taxes$36 million

Unreserved Fund Balance$5 million

Reserved Fund Balance$3.5 million

4.

Assume the following facts about a local government. Determine the Tax Limit Exhausted and the Debt Limit Exhausted ratios.

Tax Limit$11 million

Debt Limit$13 million

Tax Levy$8.5 million

Total Debt subject to Limit$9 million

5.

Assume that Debt Service Expenditures is $16.2 million and Total Revenues is $70.1 million. Calculate the Debt Service/total revenue ratio. Is the ratio favorable?

Some Exercises

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