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Author Question: A government has a liability for accrued compensated absences at the beginning of 20X5 of 500,000 . ... (Read 13 times)

nautica902

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on: Jul 5, 2018
A government has a liability for accrued compensated absences at the beginning of 20X5 of 500,000 . This liability did not mature in 20X4 .
 
  At the end of 20X5, the government has a liability for accrued compensated absences (not due and payable) of 600,000 . In addition, the government had 10,000 of matured compensated absences to be paid in early 20X6 from existing fund assets. The government paid compensated absences of 400,000 during 20X5 . The General Fund expenditures for compensated absences for 20X5 should be reported at what amount?
  A. 400,000.
  B. 410,000.
  C. 500,000.
  D. 510,000.

Question 2

The process of recording a transaction in the journal is called
 a. ledgerizing
  b. journalizing
  c. posting
  d. summarizing


lindahyatt42

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

B

Answer to Question 2

b


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nautica902

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Reply #2 on: Jul 5, 2018
Thank you


lindahyatt42

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Reply #3 on: Jul 5, 2018
No problemo


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