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Author Question: The first item appearing on the statement of retained earnings is a. net income b. the ending ... (Read 63 times)

geoffrey

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on: Jul 5, 2018
The first item appearing on the statement of retained earnings is
 a. net income
  b. the ending balance of retained earnings
  c. owner withdrawals
  d. the beginning balance of retained earnings

Question 2

A city sells 5 million of 20-year general obligation bonds on October 1, 2013 . Interest on the debt is payable at the rate of 5 a year on the unpaid balance of the debt, every six months commencing March 31, 2014 .
 
  How much should the city report as an interest expenditure in the Debt Service Fund for the calendar year ending December 31, 2013?
   a. 0
   b. 30,000
   c. 60,000
   d. 120,000


IRincones

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Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

a


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