This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Capital assets are reported in the assets section of the Capital Projects Fund balance sheet. ... (Read 65 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
on: Jul 5, 2018
Capital assets are reported in the assets section of the Capital Projects Fund balance sheet.
 
  Indicate whether the statement is true or false

Question 2

Closing entries are made in the journal and posted to the ledger accounts.
 a. True
   b. False
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Athena23

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jul 5, 2018
Answer to Question 1

False. Capital Projects Funds only report financial resources, not capital resources. Outlays for capital assets are treated as expenditures, not as assets.

Answer to Question 2

True


genevieve1028

  • Member
  • Posts: 601
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Cross Section of the Ear Cross Section of the Ear
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
A diagrammatic section through a typical adult tooth. A diagrammatic section through a typical adult tooth.
Cross section of the placenta Cross section of the placenta
Acid–Base Balance Acid–Base Balance
Transverse section of midbrain Transverse section of midbrain
Video: ribosome

For a complete list of videos, visit our video library