« previous next »

Author Question: A drawing account represents the amount of withdrawals made by the owner. a. True b. False ... (Read 67 times)

karen

  • Hero Member
  • *****
  • Posts: 537
on: Jul 5, 2018
A drawing account represents the amount of withdrawals made by the owner.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Jamestown has decided to enter into a capital lease for the purchase of its new recycling truck. The capitalizable cost of the capital asset is 175,000 and Jamestown made a 30,000 down payment at the inception of the lease agreement.
 
  The estimated useful life of the truck is ten years with 0 salvage value. Which of the following statements is false?
  A. General Fund fund balance will be reduced by 175,000.
  B. Other financing sources of 145,000 will be reported in Year 1.
  C. Expenditures of 175,000 will be reported in Year 1.
  D. Depreciation expense on the truck will be 17,500 per year.


sarajane1989

  • Sr. Member
  • ****
  • Posts: 296
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
A schematic drawing of the same memory saver. A schematic drawing of the same memory saver.
This mini clamp-on DMM is being used to measure the amount of battery electrical drain that is ... This mini clamp-on DMM is being used to measure the amount of battery electrical drain that is ...
What is the mole fraction of I2 in a solution made by dissolving 139 g of I2 in 245 g of ... What is the mole fraction of I2 in a solution made by dissolving 139 g of I2 in 245 g of ...
Converting enzyme activity to its amount Converting enzyme activity to its amount
Easter bunny drawing by Marc kindergarten Easter bunny drawing by Marc kindergarten
Video: Pores and Ion Channels

For a complete list of videos, visit our video library