« previous next »

Author Question: Assume that inspection services were performed by the General Fund department on a capital project ... (Read 58 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
on: Jul 5, 2018
Assume that inspection services were performed by the General Fund department on a capital project that is being accounting for in a Capital Project Fund. The inspection is being charged to the project.
 
  The entry to record this transaction in the Capital Project Fund would be
  A. Debit expenditures and credit due to General Fund.
  B. Debit capital asset and credit due to General Fund.
  C. Debit other financing uses and credit due to General Fund.
  D. Debit expenditures and credit revenues.

Question 2

A state enacts a gasoline tax that is restricted for new highway construction. Which fund should be used to account for the proceeds from the tax?
 
  A. Debt Service Fund.
  B. General Fund.
  C. Capital Projects Fund.
  D. General Long-Term Liabilities Fund.


kaylee05

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Acute exacerbations of asthma can require management in the emergency department. The child is place Acute exacerbations of asthma can require management in the emergency department. The child is place
CPT Modifiers Used for Medical Office Services CPT Modifiers Used for Medical Office Services
Western blot. In the first step, (1) a polyacrylamide gel electrophoresis is performed to separate ... Western blot. In the first step, (1) a polyacrylamide gel electrophoresis is performed to separate ...
Assume z is a standard normal random variable. What is the value of z if the area to the right ... Assume z is a standard normal random variable. What is the value of z if the area to the right ...
General Mathematics General Mathematics
Video: Optic Nerve and Optic Disk Animation (Part 1 of 2)

For a complete list of videos, visit our video library