Cash withdrawals by owners decrease assets and increase equity. ...

[vHAUNG6011]

Cash withdrawals by owners decrease assets and increase equity.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A government has 1,000,000 of 6, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 20X7 to finance construction of a general capital asset. Interest is payable semiannually on November 1 and May 1 .
 
  The bonds also require an annual principal payment of 100,000 on May 1 . What amount of debt service expenditures should the government report for the year ended December 31, 20X8?
  a. 60,000
  b. 90,000
  c. 160,000
  d. 190,000

[irishcancer18]

Answer to Question 1

False

Answer to Question 2

C

[vHAUNG6011]

Thanks for the timely response, appreciate it

[sarah_brady415]

Excellent