This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following expenditures is not capitalized as part of the cost of a capital asset ... (Read 69 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jul 5, 2018
Which of the following expenditures is not capitalized as part of the cost of a capital asset acquired through a Capital Projects Fund?
 
  A. The retained percentage to insure proper completion of the construction by the contractor.
  B. Direct materials and labor that are used or consumed in the construction process.
  C. Interest expenditures on bond anticipation notes.
  D. Reimbursable overhead expenditures related to the construction project.

Question 2

A computer was purchased from unrestricted resources for a general government department. The government paid cash for the computer at the purchase date. Which of the following is not an effect of this transaction in the General Fund?
 
  A. Current assets decrease.
  B. Capital assets increase.
  C. Current liabilities do not change.
  D. Fund balance decreases.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

B


Beheh

  • Hero Member
  • *****
  • Posts: 520
Reply #2 on: Jul 5, 2018
Thank you :)


nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jul 5, 2018
Happy to help you


« previous next »
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Saguaro National Park in Arizona, part of the Sonoran Desert Saguaro National Park in Arizona, part of the Sonoran Desert
Under what conditions can part-time employment in high school be a negative influence on school ... Under what conditions can part-time employment in high school be a negative influence on school ...
How to evaluate limits using algebra and the limit laws (Part 2) How to evaluate limits using algebra and the limit laws (Part 2)
How to find the definite integral using the fundamental theorem of calculus (Part 3) How to find the definite integral using the fundamental theorem of calculus (Part 3)
Soil is a crucial part of the nitrogen cycle Soil is a crucial part of the nitrogen cycle
Trig Proof Part 2 Trig Proof Part 2
Video: Muscular Dystrophy

For a complete list of videos, visit our video library