If the individual subsidiary ledger accounts contained the ...

[cartlidgeashley]

If the individual subsidiary ledger accounts contained the following data: Cadence Company - Vendor - 200 - credit balance Franklin Enterprises - Customer - 750 - debit balance Marcelo Construction - Client - 125 - debit balance Peyton Supplies - Supplier - 375 - credit balance The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be:
 a. A/R - 1,375, A/P - 375
  b. A/R - 525, A/P - 175c. A/R - 875, A/P - 575d. A/R - 750, A/P - 700

Question 2

Which of the following is a typical reconciling item between the fund-level financial statements and the government-wide financial statements?
 
  a. reporting the amount of cash on hand for governmental activities
  b. reporting revenues on the accrual basis, rather than the modified accrual basis, for business-type activities
  c. reporting depreciation expense, rather than capital outlay expenditures, for governmental activities
  d. reporting the net effect of transfers between the general fund and debt service fund

[britb2u]

Answer to Question 1

c

Answer to Question 2

c

[cartlidgeashley]

TYSM

[Alyson.hiatt@yahoo.com]

Excellent