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

Author Question: The normal balance of a capital account a. can be either a debit or a credit balance. b. is a ... (Read 79 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jul 5, 2018
The normal balance of a capital account
 a. can be either a debit or a credit balance.
   b. is a debit balance.
   c. is a credit balance.
   d. is called a footing.

Question 2

A city sells 5 million of 6 ten-year general obligation bonds on April 1, 2013 . The first installment of debt principal (250,000) is due to be paid on September 30, 2013 .
 
  What entry should the city make on September 30, 2013 in the Debt Service Fund regarding the bond principal?
   a. It should recognize a 250,000 liability for Matured bonds payable.
   b. It should reduce the 5 million long-term liability by 250,000.
   c. It should do nothing in the Debt Service Fund, but it should reduce Bonds payable by 500,000 in the Capital Projects Fund
   d. It should make no entry anywhere until the principal is actually paid.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

a


jilianpiloj

  • Member
  • Posts: 521
Reply 2 on: Jul 5, 2018
:D TYSM

amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

A normal pregnancy. A normal pregnancy.
EEG recordings showing the differences between normal, absence seizure, and generalized tonic–clonic EEG recordings showing the differences between normal, absence seizure, and generalized tonic–clonic
Inline four-cylinder engine showing principal and nonprincipal ends. Normal direction of rotation is ... Inline four-cylinder engine showing principal and nonprincipal ends. Normal direction of rotation is ...
Normal conduction pathway in the heart Normal conduction pathway in the heart
Acid–Base Balance Acid–Base Balance
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Hormonal regulation of pregnancy - weeks 2 through 38

For a complete list of videos, visit our video library