The county issued a six-month, 6, 200,000 bond anticipation note ...

[lunatika]

The county issued a six-month, 6, 200,000 bond anticipation note on October 1, 20X7, to provide temporary financing for a police station construction project. The voters have not approved the bonds, but approval is expected before year-end.
 
  The county government was billed 150,000 during the year for construction costs on its capital project and 125,000 was paid. The government should report Capital Projects Fund expenditures for the year ended December 31, 20X7 of
  A. 125,000.
  B. 150,000.
  C. 153,000.
  D. 162,000.

Question 2

Owner's equity will be reduced by the amount in the drawing account.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[coreycathey]

Answer to Question 1

C

Answer to Question 2

True

[lunatika]

Correct answers!

[coreycathey]

Great! Please up vote