Author Question: When services are performed for which payment will be received later, accounts receivable increases. ... (Read 78 times)

rachel9 · **on:** Jul 5, 2018

When services are performed for which payment will be received later, accounts receivable increases.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Assume that an Internal Service Fund purchases land on which to construct a new warehousing facility. The fund paid cash for 30 of the purchase price and financed the reminder with a loan from a local lending institution.

The Internal Service Fund will
A. Increase Net Investment in Capital Assets.
B. Report capital outlay expenditures.
C. Depreciate the cost of the land over its useful life.
D. Record the land in the General Capital Assets accounts.

al · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

True

Answer to Question 2

A

rachel9 · **Reply #2 on:** Jul 5, 2018

Correct answers!

al · **Reply #3 on:** Jul 5, 2018

Great! Please up vote

Author Question: When services are performed for which payment will be received later, accounts receivable increases. ... (Read 78 times)

rachel9

When services are performed for which payment will be received later, accounts receivable increases. ...

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al

When services are performed for which payment will be received later, accounts receivable increases. ...

rachel9

When services are performed for which payment will be received later, accounts receivable increases. ...

al

When services are performed for which payment will be received later, accounts receivable increases. ...