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Author Question: Increases are entered on the credit side of a(n) a. asset account. b. liability account. c. ... (Read 106 times)

ahriuashd

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  • Posts: 535
on: Jul 5, 2018
Increases are entered on the credit side of a(n)
 a. asset account.
   b. liability account.
   c. expense account.
   d. drawing account.

Question 2

The Cable Enterprise Fund purchased 300,000 of capital equipment during the year. The one-worksheet conversion adjustment necessary for the preparation of the government-wide financial statements would be
   Debit Credit
 
  A. Capital Assets
   Capital Outlay Expenditures 300,000
  300,000
  B. Capital Assets
   Cash 300,000
  300,000
  C. Capital Assets
   Capital Contributions 300,000
  300,000
  D. Capital Assets
   Capital Outlay Expenses 300,000
  300,000


ladyjames123

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  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

A


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