This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, ... (Read 26 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jul 5, 2018
A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2013 . It expects to accept delivery on all orders in 2014 .
 
  How should the county handle the outstanding encumbrances in its General Fund balance sheet at December 31, 2013?
   a. it should report encumbrances as if they were expenditures and liabilities of the year 2013
   b. it should close the open encumbrances and show them as part of unassigned fund balance
   c. it should close the open encumbrances and show them as part of assigned fund balance
   d. it should close the open encumbrances and make no adjustments to fund balance

Question 2

After analyzing transactions, the next step would be to post the transactions in the ledger.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

False


CBme

  • Member
  • Posts: 548
Reply 2 on: Jul 5, 2018
Excellent

Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

The carbon cycle. Numbers are storage as 1015 g or fluxes as 1015 g per year (data from Schlesinger The carbon cycle. Numbers are storage as 1015 g or fluxes as 1015 g per year (data from Schlesinger
Iceland Geothermal Resources Iceland Geothermal Resources
On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a
Selected Topical Corticosteroids for Dermatitis and Related Symptoms Selected Topical Corticosteroids for Dermatitis and Related Symptoms
Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ... Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ...
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
Video: Pasteur's Experiment

For a complete list of videos, visit our video library