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Author Question: Determine the net income (loss) for the period. a. net income 9,250 b. net loss 790 c. net loss ... (Read 88 times)

rosent76

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on: Jul 5, 2018
Determine the net income (loss) for the period.
 a. net income 9,250
  b. net loss 790
  c. net loss 5,670
  d. net income 3,580

Question 2

Depreciation expense on assets of the public safety function totaled 195,000 for the year. The one-worksheet conversion adjustment necessary to record the depreciation expense as part of governmental activities would be
 
   Debit Credit
 
  A. Depreciation Expense  Public Safety
   Accumulated Depreciation 195,000
  195,000
  B. Depreciation Expense  Public Safety
   Capital Outlay Expenditures 195,000
  195,000
  C. Capital Outlay Expenditures
   Capital Assets 195,000
  195,000
  D. Capital Outlay Expenditures
   Accumulated Depreciation 195,000
  195,000


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dpost18

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

d

Answer to Question 2

A


rosent76

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Reply #2 on: Jul 5, 2018
Thank you :)


dpost18

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Reply #3 on: Jul 5, 2018
Happy to help you


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