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Author Question: As of the end of the fiscal year, a Capital Projects Fund has material balances of supplies ... (Read 124 times)

Zulu123

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on: Jul 5, 2018
As of the end of the fiscal year, a Capital Projects Fund has material balances of supplies inventory. Which fund balance classification would reflect the inventory of supplies?
 
  A. Nonspendable.
  B. Restricted.
  C. Committed.
  D. Assigned.

Question 2

May 24 Land 105,000 Cash 105,000 Purchased land for business. What effects does this journal entry have on the accounts?
 a. increase Cash and increase Land
  b. increase Land and decrease Cash
  c. decrease Cash and decrease Land
  d. increase Cash and decrease Land


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strudel15

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

A

Answer to Question 2

b


Zulu123

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

AmberC1996

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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