Author Question: A governmental entity issues 3,000,000 of general obligation bonds at a 1 premium to finance the ... (Read 101 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
A governmental entity issues 3,000,000 of general obligation bonds at a 1 premium to finance the construction of a new public safety center. The entry to record the bond issuance in the Debt Service Fund would be
 
   dr cr
 
  a. Cash 3,000,000 Other Financing Sources  Bonds 3,000,000
  b. Cash 3,030,000 Other Financing Sources  Bonds 3,000,000 Other Financing Sources  Premium 30,000
  c. Cash 3,000,000 Expenditures 30,000 Other Financing Sources  Bonds 3,000,000
   Other Financing Sources  Premium 30,000
  d. Cash 3,030,000
   Bonds Payable 3,030,000
  e. None of the above.

Question 2

Operating Expenses consist of
 a. Interest Expense and General Expenses.
  b. Selling Expenses and Cost of Goods Sold.
  c. Interest Expense and Selling Expenses.
  d. General Expenses and Selling Expenses.
  e. Interest Expense and Cost of Goods Sold.



SVictor

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

E

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

For a complete list of videos, visit our video library