Author Question: A data model depicts the requirements for data as specified by the: a. database b. enterprise c. ... (Read 61 times)

ts19998 · **on:** Jul 5, 2018

A data model depicts the requirements for data as specified by the:
a. database
b. enterprise
c. user
d. database administrator

Question 2

(Preparing entries to close a Capital Projects Fund) see p. 195 uses close not abolish

You are the Finance Director of the Town of Blue Mountain.

Presented below is the trial balance for a Capital Projects Fund of the Town at October 31, 2013 . The Town Engineer has advised you that the project accounted for within this fund, a new system of bicycle trails, is complete and formal acceptance by the Town is pending. The Town Council has directed you to abolish this fund and transfer any remaining net assets to the Town's Debt Service Fund. Prepare the entries necessary to settle the remaining liabilities of the fund, close the accounts, and transfer the remaining net assets to the Debt Service Fund.
.
Town of Blue Mountain
Capital Projects Fund
Preclosing Trial Balance
October 31, 2013

Debits
Credits

Cash
70,160

Vouchers payable

24,450

Retainage percentage

42,750

Restricted fund balance

117,285

Revenues - interest

50,175

Expenditures - capital outlay
197,000

Transfer in from General Fund

32,500

267,160
267,160
What will be an ideal response?

cadimas · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

C

Answer to Question 2

Vouchers payable 24,450
Retainage payable 42,750
Cash 67,200

Revenues - interest 50,175
Transfer in from General Fund 32,500
Restricted fund balance 114,325
Expenditures - capital outlay 197,000

Transfer out to Debt Service Fund 2,960
Cash 2,960

Restricted fund balance 2,960
Transfer out to Debt Service Fund 2,960