The Town of Wakefield Opened a Solid Waste Landfill in 2017

question 13

Essay

The Town of Wakefield opened a solid waste landfill in 2017 that was at 20% capacity on December 31, 2017 and at 50% capacity on December 31, 2018. The city initially anticipated closure costs of $2.3 million but in 2018 revised the estimate of the closure costs to be $2.7 million. None of these costs will be incurred until the landfill is scheduled to be closed.
-Assuming the landfill is recorded within the General fund, how would the landfill information be represented in the governmental fund financial statements at December 31, 2018?

---

Definitions:

Ancient Greeks

The Ancient Greeks were people belonging to the Greek civilization during a period from the Dark Ages about 1200 BCE to the end of antiquity (c. 600 AD). This era was marked by significant developments in art, philosophy, science, and politics.

Behaviorism

A theory of learning based on the idea that all behaviors are acquired through conditioning, without considering thoughts or feelings.

Watson

John B. Watson is considered the father of behaviorism, a school of psychology focusing on observable behaviors rather than mental processes.

Gestalt

A theory of mind and brain that proposes that the operational principle of the brain is holistic, parallel, and analog, with self-organizing tendencies; often summarized by the phrase "the whole is different from the sum of its parts."