An Enterprise Fund is donating a capital asset with a net book ...

[savannahhooper]

An Enterprise Fund is donating a capital asset with a net book value of 25,000 to a general government department. The entry that should be recorded for the Enterprise Fund would be
 
  A. A debit to nonoperating expense and a credit to capital assets.
  B. A debit to transfer out and a credit to capital assets.
  C. A debit to capital contribution and a credit to capital assets.
  D. A debit to other financing use and a credit to capital assets.

Question 2

A company receives 6,500 for two season tickets sold on September 1 . If 2,500 is earned by December 31, the adjusting entry made at that time is a debit to Cash, 2,500, and a credit to Ticket Revenue, 2,500.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[leannegxo]

Answer to Question 1

A

Answer to Question 2

False

[savannahhooper]

Thanks for the timely response, appreciate it

[mcabuhat]

Great answer, keep it coming