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

Author Question: A government plans to create an Internal Service Fund to account for its new central warehouse. The ... (Read 62 times)

burchfield96

  • Hero Member
  • *****
  • Posts: 610
on: Jul 5, 2018
A government plans to create an Internal Service Fund to account for its new central warehouse. The General Fund loans the Internal Service Fund 100,000, which is going to pay back the loan interest-free in five years.
 
  The entry in the Internal Service Fund to record this transaction would be
 
   Debit Credit
  A. Cash
   Revenue 100,000
  100,000
  B. Cash
   Capital Contribution 100,000
  100,000
  C. Cash
   Transfer from General Fund 100,000
  100,000
  D. Cash
   Advance from General Fund 100,000
  100,000

Question 2

The statement of owner's equity shows the state of the business on a specific date.
 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

Ahernandez18

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

False


burchfield96

  • Member
  • Posts: 610
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Modifications to eukaryotic pre-mRNA are needed to create a functional (mature) mRNA molecule Modifications to eukaryotic pre-mRNA are needed to create a functional (mature) mRNA molecule
Location, appearance, and internal structure of the mammalian pancreas. Location, appearance, and internal structure of the mammalian pancreas.
Internal structures at the front of the eye. Internal structures at the front of the eye.
Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a
Grace Service, a YMCA missionary, explained that these porters worked at the base of Mount Omei in S Grace Service, a YMCA missionary, explained that these porters worked at the base of Mount Omei in S
Rem Koolhaas and Ole Scheeren, OMA, New Headquarters, Central Chinese Television (CCTV), Beijing, ... Rem Koolhaas and Ole Scheeren, OMA, New Headquarters, Central Chinese Television (CCTV), Beijing, ...
Video: Prone Position

For a complete list of videos, visit our video library