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Author Question: Capital outlay expenditures would be least likely in a A. General Fund. B. Debt Service Fund. ... (Read 112 times)

crobinson2013

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on: Jul 5, 2018
Capital outlay expenditures would be least likely in a
 
  A. General Fund.
  B. Debt Service Fund.
  C. Capital Projects Fund.
  D. Special Revenue Fund.

Question 2

Dave Ryan is the owner and operator of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of450,000 and liabilities of 125,000 . Using the accounting equation, determine the following amounts: (a) owner's equity as of December 31 of the current year (b) owner's equity as of December 31 at the end of the next year, assuming that assetsincreased by 65,000 and liabilities increased by 35,000 during the year


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todom5090

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

B; 6

Answer to Question 2

(a) 325,000 (450,000  125,000)
(b) 355,000 (450,000 + 65,000)  (125,000 + 35,000)


crobinson2013

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

ghepp

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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