A general government department of a county government donated a capital asset with an original cost of 40,000 and accumulated depreciation of 15,000 to one of the county's proprietary funds. The proprietary fund would record the transaction as a
A. Debit to capital assets of 40,000 and a credit to revenue.
B. Debit to capital assets of 40,000 and a credit to capital contribution.
C. Debit to capital assets of 25,000 and a credit to revenue.
D. Debit to capital assets of 25,000 and a credit to capital contribution.
Question 2
Which of the following is nota correct rule of debits and credits?
a. Assets, expenses, and withdrawals are increased by debits.
b. Assets are decreased by credits and have a normal debit balance.
c. Liabilities, revenues, and owner's equity are increased by credits.
d. The normal balance for revenues and expenses is a credit.
The general pattern of progression of an untreated HIV infection
Olmsted, Vaux & Co., General plan of Riverside, Illinois.
General location of the primary auditory cortex and areas of secondary auditory cortex. Most ...
Typical Startup Cost Categories Cont.
General Characteristics of Muscular Tissue
When operating your own business, it is wise to know your cost of capital and that of the ...