When a sale for 1,350 takes place with a 250 deposit having been ...

[nmorano1]

When a sale for 1,350 takes place with a 250 deposit having been received in advance, only the 1,100 onaccount is recorded in the revenue journal.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

(Classification of resource inflows in Fund operating statements)
 
  A county's Debt Service and Capital Projects Funds had the following resource inflows during 2013 .
 
  State whether each of the inflows should be reported as revenues or as other financing sources in the fund-level statements of revenues, expenditures and changes in fund balances.
   a. Property taxes levied specifically for the Debt Service Fund
   b. Cash received from General Fund to finance debt service payments
   c. Cash received from General Fund to finance part of the cost of new police headquarters
   d. Grant from state to finance part of cost of new police headquarters
   e. Proceeds of bonds issued to finance part of the cost of new police headquarters
   f. Interest earned on investment of resources being accumulated to finance construction
   g. Increase in fair market value of investments being accumulated to finance construction
   h. Bond premium received by Debt Service Fund from Capital Projects fund

[IAPPLET]

Answer to Question 1

True

Answer to Question 2

a. Revenues
b. Other financing sources
c. Other financing sources
d. Revenues
e. Other financing sources
f. Revenues
g. Revenues
h. Other financing sources

[nmorano1]

Excellent

[phuda]

TYSM