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Author Question: Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fund, two Enterprise ... (Read 169 times)

lb_gilbert

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on: Jul 6, 2018
Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fund, two Enterprise Funds, two Internal Service Funds, three Pension Trust Funds, and one Private-Purpose Trust Fund.
 
  Assuming all governmental and enterprise funds meet the major fund criteria, how many columns will the proprietary fund statement of net assets have?
  a. two
  b. three
  c. four
  d. five
  e. eight

Question 2

A baseball team records ticket revenue received in advance as Unearned Revenue. On the team's work sheet, the required adjusting entry is
 a. debit Cash; credit Unearned Revenue.
   b. debit Revenue; credit Unearned Revenue.
   c. debit Unearned Revenue; credit Cash.
   d. debitUnearned Revenue; credit Revenue.
   e. debit Cash; credit Unearned Revenue Income.


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tofugiraffe

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Reply #1 on: Jul 6, 2018
Answer to Question 1

A

Answer to Question 2

d


lb_gilbert

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Reply #2 on: Jul 6, 2018
Thank you


tofugiraffe

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Reply #3 on: Jul 6, 2018
No problemo


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