Author Question: Which of the following items would require an adjustment to convert governmental fund information to ... (Read 72 times)

tsand2 · **on:** Jul 5, 2018

Which of the following items would require an adjustment to convert governmental fund information to governmental activities information in the statement of activities?

a. Interest expense
b. Property tax revenue
c. Proceeds from the sale of capital assets
d. All of the above

Question 2

The accounts in the ledger of Monroe Entertainment Co are listed below. All accounts have normal balances. Accounts Payable 1,500 Fees Earned 3,600 Accounts Receivable 1,800 Insurance Expense 1,300 Prepaid Insurance 2,000 Land 3,000 Cash 3,200 Wages Expense 1,400 Drawing 1,200 Capital 8,800 The total of all the assets isa. 10,000 b. 8,000 c. 9,700 d. 9,800