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Author Question: If cash from the General Fund is transferred to a Debt Service Fund, the entry in the Debt Service ... (Read 115 times)

mcmcdaniel

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  • Posts: 550
on: Jul 6, 2018
If cash from the General Fund is transferred to a Debt Service Fund, the entry in the Debt Service Fund would
 
  a. DEBIT cash and CREDIT revenues.
  b. DEBIT cash and CREDIT other financing sources.
  c. DEBIT cash and CREDIT accounts receivable.
  d. DEBIT cash and CREDIT deferred revenue.
  e. DEBIT cash and CREDIT fund balance.

Question 2

An example of Other Income for a firm other than a bank or real estate office is
 a. Rent Income.
  b. Interest Income.
  c. Gain on Disposal of Property and Equipment.
  d. all of these.
  e. none of these.


cloudre37

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Reply #1 on: Jul 6, 2018
Answer to Question 1

B

Answer to Question 2

D


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