Author Question: The owner's equity will be reduced by all of the following except a. revenues b. expenses c. ... (Read 151 times)

appyboo · **on:** Jul 5, 2018

The owner's equity will be reduced by all of the following except
a. revenues
b. expenses
c. withdrawals
d. all of these

Question 2

40,000 of General Fund expenditures had been paid for from and recorded in a Special Revenue Fund. Upon discovery of this situation, 40,000 was paid from the General Fund to the Special Revenue Fund.

This transaction is recorded in the Special Revenue Fund by debiting Cash and crediting
a. expenditures.
b. other financing sources in.
c. transfer in.
d. revenues.