Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means
a. all of the information from the journal was correctly transferred to the ledger
b. all accounts have their correct balances in the ledger
c. only the journal is accurate; the ledger may be incorrect
d. only that the debit dollar amounts equal the credit dollar amounts
Question 2
If the governing body contributes 65,000 from the General Fund to a Debt Service Fund, the General Fund statements should report
A. A debt service expenditure of 65,000.
B. An other financing use of 65,000.
C. A capital contribution of 65,000.
D. A reimbursement of 65,000.
Mel Chin, Operation Paydirt/Fundred Dollar Bill Project.
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