This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, ... (Read 47 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jul 5, 2018
A county has 3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2013 . It expects to accept delivery on all orders in 2014 .
 
  How should the county handle the outstanding encumbrances in its General Fund balance sheet at December 31, 2013?
   a. it should report encumbrances as if they were expenditures and liabilities of the year 2013
   b. it should close the open encumbrances and show them as part of unassigned fund balance
   c. it should close the open encumbrances and show them as part of assigned fund balance
   d. it should close the open encumbrances and make no adjustments to fund balance

Question 2

After analyzing transactions, the next step would be to post the transactions in the ledger.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

False


CBme

  • Member
  • Posts: 548
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Procedures and Diagnostic Tests Related to the Female Reproductive System Procedures and Diagnostic Tests Related to the Female Reproductive System
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
New year kid drawing New year kid drawing
Video: DNA Sequences - Dideoxy Sequencing

For a complete list of videos, visit our video library