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 54 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
:D TYSM

meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

The Reticular Activating System and Related Regions in the Brain Are Important Areas of Focus for D The Reticular Activating System and Related Regions in the Brain Are Important Areas of Focus for D
Selected Drugs for Psoriasis and Related Disorders Selected Drugs for Psoriasis and Related Disorders
Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ... Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ...
Marine pollution threatens resources and marine life Marine pollution threatens resources and marine life
essay on friendship written by a 10-year-old essay on friendship written by a 10-year-old
Concepts related to the pathogenesis of myocardial infarction in an individual with diabetes. Concepts related to the pathogenesis of myocardial infarction in an individual with diabetes.
Video: Introduction to Diabetes

For a complete list of videos, visit our video library