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Author Question: Retainage payable will most likely appear in which financial statement? a. government-wide ... (Read 11 times)

kodithompson

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on: Jul 5, 2018
Retainage payable will most likely appear in which financial statement?
 
  a. government-wide statement of net assets
  b. capital projects fund balance sheet
  c. debt service fund balance sheet
  d. special revenue fund balance sheet

Question 2

The income statement columns in the end-of-period spreadsheet show that debits are equal to 55,800 and credits are 77,520 . What does this information mean to the accountant?
 a. net income of 21,720
  b. net loss of 21,720
  c. the accounts are out of balance, indicating an error has been made
  d. the accounts have not been updated


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AISCAMPING

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Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

a


kodithompson

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

laurnthompson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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