This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Accumulated Depreciation appears on the a. balance sheet in the current assets section b. balance ... (Read 42 times)

james9437

  • Hero Member
  • *****
  • Posts: 568
on: Jul 5, 2018
Accumulated Depreciation appears on the
 a. balance sheet in the current assets section
  b. balance sheet in the property, plant, and equipment section
  c. balance sheet in the long-term liabilities section
  d. income statement as an operating expense

Question 2

A government had capital outlay expenditures of 226,000 during the year for the public safety function accounted for in the General Fund.
 
  It was determined that 195,000 of the capital outlay should be reported as capital assets in the government-wide financial statements. What would the one-worksheet conversion adjustment be to record the capital assets as a governmental activity?
 
   Debit Credit
  A. Capital Outlay Expenditures
   Fund Balance 226,000
  226,000
  B. Capital Assets
   Capital Outlay Expenditures 195,000
  195,000
  C. Capital Assets
   Capital Outlay Expenditures 226,000
  226,000
  D. Capital Assets
  Expenses  Public Safety
   Capital Outlay Expenditures 195,000
  31,000
 
  226,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

l.stuut

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

D


james9437

  • Member
  • Posts: 568
Reply 2 on: Jul 5, 2018
Gracias!

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Lateral Cross Section of the Nose Lateral Cross Section of the Nose
Heliospheric-current-sheet Heliospheric-current-sheet
Sagittal section of upper respiratory system illustrating the internal anatomy of the nasal cavity, Sagittal section of upper respiratory system illustrating the internal anatomy of the nasal cavity,
Intradermal drug administration: (a) cross section of skin showing depth of needle insertion Source: Intradermal drug administration: (a) cross section of skin showing depth of needle insertion Source:
A schematic cross section of the spinal cord and the dorsal and ventral roots. A schematic cross section of the spinal cord and the dorsal and ventral roots.
Magnetic Force on a Current Carrying Conductor Magnetic Force on a Current Carrying Conductor
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library