Which of the following is an example of a mandatory transfer in ...

[CBme]

Which of the following is an example of a mandatory transfer in college and university accounting?
 
  a. a transfer to a Plant Fund to set aside amounts that will be used to pay debt service in accordance with a clause in a bond agreement
  b. a transfer to a Plant Fund based on a decision by the Board of Trustees to build a new school of engineering
  c. a transfer to a Plant Fund based on a decision by management to build new box seats in the football stadium for major donors
  d. a reclassification from temporarily restricted to unrestricted net assets

Question 2

The work sheet columns that show the amounts that will be reported in the statement of owner's equity and the balance sheet are the ___________________ _.
 Fill in the blank(s) with correct word

[mbcrismon]

Answer to Question 1

a

Answer to Question 2

Balance Sheet columns

[CBme]

Excellent

[xthemafja]

TYSM