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Author Question: If the governing body contritutes 65,000 from the General Fund to a Debt Service Fund, the General ... (Read 69 times)

Metfan725

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  • Posts: 552
on: Jul 6, 2018
If the governing body contritutes 65,000 from the General Fund to a Debt Service Fund, the General Fund statements should report
 
  a. a debt service expenditure of 65,000
  b. an other financing use of 65,000
  c. a capital contribution of 65,000
  d. a reimbursement of 65,000
  e. None of the above.

Question 2

On October 30, goods with a list price of 9,500 are sold, subject to a trade discount of 25 percent with terms of 2/10, n/30 . Payment is received from the customer on November 5 . The amount recorded in the Sales Discounts Debit column on November 5 is
 a. 2,375.
   b. 190.
   c. 6,762.
   d. 142.50.
   e. 0.


dajones82

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

B

Answer to Question 2

d


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