Author Question: Jace Township's General Fund reports a balance due from another fund. This item and the ... (Read 120 times)

Jkov05 · **on:** Jul 5, 2018

Jace Township's General Fund reports a balance due from another fund. This item and the corresponding interfund liability will appear in Jace Township's government-wide statement of net position only if the debtor fund is

a. an enterprise fund
b. a capital projects fund
c. an internal service fund
d. a permanent fund

Question 2

To record wages earned but not paid under the modified cash accounting method,
a. debit Wages Payable and credit Wages Expense.
b. debit Cash and credit Wages Expense.
c. debit Wages Expense and credit Wages Payable.
d. no entry is required.