Author Question: A government has a liability for accrued compensated absences at the beginning of 20X5 of 500,000 . ... (Read 74 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
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

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

B

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

For a complete list of videos, visit our video library