This topic contains a solution. Click here to go to the answer

Author Question: A government may elect not to report depreciation expense on which type of capital assets? a. ... (Read 45 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
A government may elect not to report depreciation expense on which type of capital assets?
 
  a. Capital assets with original useful lives in excess of 25 years
  b. Infrastructure capital assets
  c. Capital assets acquired by the General Fund
  d. None of the above

Question 2

If a painting company receives 80,000 in advance for services to be performed in both the present fiscal period and the following fiscal period, the best entry would be
 a. debit Cash; credit Painting Revenue.
   b. debit Cash; credit Accounts Payable.
   c. debit Cash; credit Unearned Painting Revenue.
   d. debit Cash; credit Other Income.
   e. debit Painting Revenue; credit Unearned Painting Revenue.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

B

Answer to Question 2

c




BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jul 6, 2018
Gracias!


tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Excellent

 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

For a complete list of videos, visit our video library