« previous next »

Author Question: Which of the following entries records the payment of insurance for the current month? a. Cash, ... (Read 16 times)

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
on: Jul 5, 2018
Which of the following entries records the payment of insurance for the current month?
 a. Cash, debit; Insurance Expense, credit
  b. Insurance Expense, debit; Cash, credit
  c. Insurance Expense, debit; Accounts Receivable, credit
  d. Prepaid Insurance, debit; Cash, credit

Question 2

A city a long-term general government liability for compensated absences of 700,000 at the beginning of the year and 650,000 at the end of the year.
 
  What adjustment is needed to fund balance to reconcile the governmental funds balance sheet information to net assets for governmental activities in the government-wide statement?
  a. 50,000
  b. (50,000)
  c. (650,000)
  d. No adjustment is required on this reconciliation


olderstudent

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Past and current ranges of the grizzly bear. Past and current ranges of the grizzly bear.
That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by
Security Tips for Accepting Various Forms of Payment Security Tips for Accepting Various Forms of Payment
Security Tips for Accepting Various Forms of Payment Security Tips for Accepting Various Forms of Payment
Current FDA Pregnancy Category Ratings with Examples Current FDA Pregnancy Category Ratings with Examples
Current Geopolitics and Civil Liberties Current Geopolitics and Civil Liberties
Video: Transmission Across a Synapse

For a complete list of videos, visit our video library