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

Author Question: Which of the following is recorded in the cash receipts journal? a. cash withdrawn by the owner b. ... (Read 59 times)

K@

  • Hero Member
  • *****
  • Posts: 608
Which of the following is recorded in the cash receipts journal?
 a. cash withdrawn by the owner
  b. cash purchase of equipment
  c. cash received on customer's account
  d. adjusting entry for depreciation

Question 2

A small village (which keeps its records on a calendar-year basis) issued 1 million of bonds on April 1, 2012 .
 
  The first payment of principal was due April 1, 2013, but interest at 6 percent per annum on the outstanding debt was due on October 1, 2012 and April 1, 2013 . How much interest expenditure (expense) should the village recognize in its governmental fund and government-wide financial statements for the calendar year 2012?
   Fund Government-wide
   Statements Statements
   a. 30,000 30,000
   b. 30,000 45,000
   c. 30,000 60,000
   d. 45,000 45,000



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

polinasid

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

c

Answer to Question 2

b





 

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

For a complete list of videos, visit our video library