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 27 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
YES! Correct, THANKS for helping me on my review

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

The phosphorus cycle. Numbers are 1012 g P or fluxes as 1012 g P per year (data from Schlesinger 199 The phosphorus cycle. Numbers are 1012 g P or fluxes as 1012 g P per year (data from Schlesinger 199
General Intelligence is Related to Various Outcomes General Intelligence is Related to Various Outcomes
Procedures and Diagnostic Tests Related to the Urinary System Procedures and Diagnostic Tests Related to the Urinary System
Functionalist and Conflict Views of Stratification: The Distribution of Society's Resources Functionalist and Conflict Views of Stratification: The Distribution of Society's Resources
The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ... The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ...
Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ... Preoperative photograph of a 43-year-old Caucasian male with necrotizing fasciitis on the day of ...
Video: Introduction to Tuberculosis

For a complete list of videos, visit our video library