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Author Question: A manual work sheet is usually prepared in pencil. a. True b. False Indicate whether the ... (Read 61 times)

cagreen833

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on: Jul 5, 2018
A manual work sheet is usually prepared in pencil.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

An Enterprise Fund issued bonds in the amount of 100,000 and immediately acquired capital assets from the bond proceeds at a cost of 100,000 . As of December 31, 2013, accumulated depreciation on the assets was 10,000 .
 
  Also, as of December 31, 2013, the Enterprise Fund had paid back 15,000 of the debt principal. In its December 31, 2013, statement of net position, how much should the Fund report as its net investment in capital assets?
   a. 90,000
   b. 85,000
   c. 15,000
   d. 5,000


ryrychapman11

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Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

d


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