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Author Question: Examples of revenue accounts include all of the following EXCEPT a. Wages. b. Sales. c. ... (Read 50 times)

jenna1

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on: Jul 5, 2018
Examples of revenue accounts include all of the following EXCEPT
 a. Wages.
   b. Sales.
   c. Delivery Fees.
   d. Professional Fees.

Question 2

A city keeps its books on a calendar year basis. On April 1, 2013, the city sold 500,000 of 6 general obligation bonds, payable in semi-annual installments.
 
  The first installment, due October 31, 2013 covered interest of 15,000 and principal of 25,000 . For the year ended December 31, 2013, how much should the Debt Service Fund report as expenditures?
   a. 15,000
   b. 40,000
   c. 15,000, plus an accrual for three months' interest
   d. 40,000, plus an accrual for three months' interest and principal


ecabral0

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

a

Answer to Question 2

b


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