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

Author Question: A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, ... (Read 13 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jul 5, 2018
A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2013 . It expects to accept delivery on all orders in 2014 .
 
  How should the county handle the outstanding encumbrances in its General Fund balance sheet at December 31, 2013?
   a. it should report encumbrances as if they were expenditures and liabilities of the year 2013
   b. it should close the open encumbrances and show them as part of unassigned fund balance
   c. it should close the open encumbrances and show them as part of assigned fund balance
   d. it should close the open encumbrances and make no adjustments to fund balance

Question 2

After analyzing transactions, the next step would be to post the transactions in the ledger.
 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

cascooper22

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

c

Answer to Question 2

False


CBme

  • Member
  • Posts: 548
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

nyrave

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

« previous next »
 

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?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

The electrophoretic mobility of a protein on an SDS polyacrylamide gel is related to its molecular w The electrophoretic mobility of a protein on an SDS polyacrylamide gel is related to its molecular w
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
General Intelligence is Related to Various Outcomes General Intelligence is Related to Various Outcomes
Procedures for Diagnostic Tests Related to the Digestive System Procedures for Diagnostic Tests Related to the Digestive System
Procedures and Diagnostic Tests Related to the Female Reproductive System Procedures and Diagnostic Tests Related to the Female Reproductive System
An ignition- or mixture-related misfire can cause hash on the oxygen sensor waveform. An ignition- or mixture-related misfire can cause hash on the oxygen sensor waveform.
Video: Introduction to Eating Disorders

For a complete list of videos, visit our video library