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Author Question: Management's Discussion and Analysis is A. Part of the basic financial statements. B. Included ... (Read 57 times)

bclement10

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on: Jul 5, 2018
Management's Discussion and Analysis is
 
  A. Part of the basic financial statements.
  B. Included in the introductory section of a CAFR.
  C. Required supplementary information.
  D. Optional in a CAFR.

Question 2

On October 17, Nikle Company purchased a building and a plot of land for 750,000 . The building was valued at 500,000 while the land carried a value of 250,000 . Nikle paid 300,000 down in cash and signed a note payablefor the balance. Provide the journal entry for this transaction.


mceravolo

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

C

Answer to Question 2

Oct. 17 Building 500,000
Land 250,000
Cash 300,000
Notes Payable 450,000
Purchased building and landwith cash down payment.


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