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Author Question: General capital assets with a net book value of 46,000 were transferred to an Enterprise Fund. The ... (Read 70 times)

big1devin

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on: Jul 5, 2018
General capital assets with a net book value of 46,000 were transferred to an Enterprise Fund. The business-type activities column in the government-wide financial statements would report
 
  A. A transfer in of 46,000.
  B. A capital contribution of 46,000.
  C. An other financing source of 46,000.
  D. A revenue of 46,000.

Question 2

The balance in the unearned fees account, before adjustment at the end of the year, is 10,250 . Journalize the adjusting entry required if the amount of unearned fees at the end of the year is 3,125.


krakiolit

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

A

Answer to Question 2

Unearned Fees (10,250 - 3,125) 7,125
Fees Earned 7,125


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