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Author Question: Capital outlay expenditures would be least likely in a A. General Fund. B. Debt Service Fund. ... (Read 110 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
Thanks for the timely response, appreciate it

amynguyen1221

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Reply 3 on: Yesterday
Wow, this really help

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