This topic contains a solution. Click here to go to the answer

Author Question: A bridge construction project, accounted for in a Capital Projects Fund, is in Year 2 of an ... (Read 45 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
A bridge construction project, accounted for in a Capital Projects Fund, is in Year 2 of an anticipated three year construction period. In Year 1, costs of 300,000 were incurred. In Year 2, 1,530,000 of costs were incurred.
 
  What entry would be necessary in the General Capital Assets accounts for Year 2?
 
   Debit Credit
  A. Capital Outlay
   Cash 1,530,000
  1,530,000
  B. Construction in progress
   Cash 1,530,000
  1,530,000
  C. Construction in progress
   Net investment in capital assets 1,530,000
  1,530,000
  D. Construction in progress
   Net investment in capital assets 1,830,000
  1,830,000

Question 2

It is critical for accountants to understand enterprise resource planning (ERP) systems.
  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

pami445

  • Sr. Member
  • ****
  • Posts: 303
Answer to Question 1

C

Answer to Question 2

T




gbarreiro

  • Member
  • Posts: 566
Reply 2 on: Jul 5, 2018
Wow, this really help


EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

For a complete list of videos, visit our video library