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Author Question: A data model depicts the requirements for data as specified by the: a. database b. enterprise c. ... (Read 164 times)

ts19998

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on: Jul 5, 2018
A data model depicts the requirements for data as specified by the:
 a. database
  b. enterprise
  c. user
  d. database administrator

Question 2

(Preparing entries to close a Capital Projects Fund) see p. 195 uses close not abolish
 
  You are the Finance Director of the Town of Blue Mountain.
 
  Presented below is the trial balance for a Capital Projects Fund of the Town at October 31, 2013 . The Town Engineer has advised you that the project accounted for within this fund, a new system of bicycle trails, is complete and formal acceptance by the Town is pending. The Town Council has directed you to abolish this fund and transfer any remaining net assets to the Town's Debt Service Fund. Prepare the entries necessary to settle the remaining liabilities of the fund, close the accounts, and transfer the remaining net assets to the Debt Service Fund.
  .
  Town of Blue Mountain
  Capital Projects Fund
  Preclosing Trial Balance
  October 31, 2013
 
  Debits
  Credits
 
  Cash
   70,160
 
  Vouchers payable
 
   24,450
 
  Retainage percentage
 
  42,750
 
  Restricted fund balance
 
  117,285
 
  Revenues - interest
 
  50,175
 
  Expenditures - capital outlay
   197,000
 
  Transfer in from General Fund
 
   32,500
 
   267,160
   267,160
  What will be an ideal response?


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cadimas

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

C

Answer to Question 2

Vouchers payable 24,450
Retainage payable 42,750
Cash 67,200

Revenues - interest 50,175
Transfer in from General Fund 32,500
Restricted fund balance 114,325
Expenditures - capital outlay 197,000

Transfer out to Debt Service Fund 2,960
Cash 2,960

Restricted fund balance 2,960
Transfer out to Debt Service Fund 2,960


ts19998

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

komodo7

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Reply 3 on: Yesterday
:D TYSM

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