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

Author Question: The General Fund transfers 25,000 withheld from employee's gross pay during the last quarter to the ... (Read 23 times)

bb

  • Hero Member
  • *****
  • Posts: 544
on: Jul 5, 2018
The General Fund transfers 25,000 withheld from employee's gross pay during the last quarter to the Pension Trust Fund. Which of the following statements regarding this transaction is true?
 
  A. The General Fund will reduce a liability and the Pension Trust Fund will record additions.
  B. The General Fund will report expenditures and the Pension Trust Fund will record revenues.
  C. The General Fund will report expenditures and the Pension Trust Fund will record additions.
  D. The General Fund will reduce a liability and the Pension Trust Fund will record revenues.

Question 2

A company receives 360 for a 12-month trade magazine subscription on August 1 . The adjusting entry on December 31 is a debit to Unearned Subscription Revenue, 150, and credit to Subscription Revenue, 150.
 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

joewallace

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

True


bb

  • Hero Member
  • *****
  • Posts: 544
Reply #2 on: Jul 5, 2018
Thank you :)


joewallace

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jul 5, 2018
Happy to help you


« previous next »
 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f
General representation of the autonomic nervous system. General representation of the autonomic nervous system.
Gross and fine motor development Gross and fine motor development
Different parts of the body mature at different rates. “General” refers to the body as a whole: the Different parts of the body mature at different rates. “General” refers to the body as a whole: the
Example of an employee setup screen in a computerized payroll program. Example of an employee setup screen in a computerized payroll program.
General Mathematics General Mathematics
Video: Electrocardiogram Examination

For a complete list of videos, visit our video library