Author Question: Sue Lee paid 1,200 for her employees' salaries. This transaction would a. increase assets and ... (Read 81 times)

jayhills49 · **on:** Jul 5, 2018

Sue Lee paid 1,200 for her employees' salaries. This transaction would
a. increase assets and decrease owner's equity.
b. increase assets and increase liabilities.
c. decrease assets and decrease liabilities.
d. decrease assets and decrease owner's equity.

Question 2

The General Fund transferred 10,000 to Enterprise Fund A; a Special Revenue Fund transferred 20,000 to a Capital Projects Fund; Enterprise Fund A transferred 35,000 to a Capital Projects Fund and 25,000 to Enterprise Fund B.

The governmental activities column on the Statement of Activities will be report
A. Transfers in of 25,000.
B. Transfers out of 30,000.
C. Transfers in of 55,000.
D. Transfers in of 35,000.