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Author Question: Which fund type would be reported in the Statement of Revenues, Expenditures, and Changes in Fund ... (Read 89 times)

stock

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on: Jul 5, 2018
Which fund type would be reported in the Statement of Revenues, Expenditures, and Changes in Fund Balance?
 
  a. Enterprise Funds
  b. Internal Service Funds
  c. Permanent Funds
  d. Pension Trust Funds
  e. Agency Funds

Question 2

Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of 14,000 and unexpired insurance of 3,000, for the fiscal year ending on April 30?
 a. debit Insurance Expense, 3,000; credit Prepaid Insurance, 3,000
  b. debit Insurance Expense, 14,000; credit Prepaid Insurance, 14,000
  c. debit Prepaid Insurance, 11,000; credit Insurance Expense, 11,000
  d. debit Insurance Expense, 11,000; credit Prepaid Insurance, 11,000


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snackralk

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

d


stock

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

mcarey591

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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