Author Question: Capital and drawing are reported in the owner's equity section of the balance sheet. a. True b. ... (Read 94 times)

tnt_battle · **on:** Jul 5, 2018

Capital and drawing are reported in the owner's equity section of the balance sheet.
a. True
b. False

Indicate whether the statement is true or false

Question 2

The General Fund paid 195,000 related to compensated absences during the year.

If the beginning balance of long-term compensated absences payable for the governmental activities was 65,000 and the ending balance was 55,000, then the expenses related to compensated absences in the governmental activities column would be
A. 195,000.
B. 185,000.
C. 65,000.
D. 55,000.