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

Author Question: Capital assets are reported in the assets section of the Capital Projects Fund balance sheet. ... (Read 139 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
on: Jul 5, 2018
Capital assets are reported in the assets section of the Capital Projects Fund balance sheet.
 
  Indicate whether the statement is true or false

Question 2

Closing entries are made in the journal and posted to the ledger accounts.
 a. True
   b. False
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Athena23

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jul 5, 2018
Answer to Question 1

False. Capital Projects Funds only report financial resources, not capital resources. Outlays for capital assets are treated as expenditures, not as assets.

Answer to Question 2

True


genevieve1028

  • Member
  • Posts: 601
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

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?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Salt and water balance in water-breathers. Salt and water balance in water-breathers.
Gene expression. Transcription of a section of DNA into a complementary strand of messenger RNA is ... Gene expression. Transcription of a section of DNA into a complementary strand of messenger RNA is ...
Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011 Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011
Eco-Development Projects Eco-Development Projects
The Concept of Water Balance The Concept of Water Balance
Acid–Base Balance Acid–Base Balance
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library