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Author Question: Which of the following is recorded in the cash receipts journal? a. cash withdrawn by the owner b. ... (Read 60 times)

K@

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on: Jul 5, 2018
Which of the following is recorded in the cash receipts journal?
 a. cash withdrawn by the owner
  b. cash purchase of equipment
  c. cash received on customer's account
  d. adjusting entry for depreciation

Question 2

A small village (which keeps its records on a calendar-year basis) issued 1 million of bonds on April 1, 2012 .
 
  The first payment of principal was due April 1, 2013, but interest at 6 percent per annum on the outstanding debt was due on October 1, 2012 and April 1, 2013 . How much interest expenditure (expense) should the village recognize in its governmental fund and government-wide financial statements for the calendar year 2012?
   Fund Government-wide
   Statements Statements
   a. 30,000 30,000
   b. 30,000 45,000
   c. 30,000 60,000
   d. 45,000 45,000


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polinasid

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

c

Answer to Question 2

b


K@

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Reply #2 on: Jul 5, 2018
Thank you


polinasid

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Reply #3 on: Jul 5, 2018
No problemo


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