Author Question: From the following list of items taken from Lamar's accounting records, identify those that would ... (Read 117 times)

vinney12 · **on:** Jul 5, 2018

From the following list of items taken from Lamar's accounting records, identify those that would appear on theincome statement. (a) Rent Expense (b) Land (c) Capital (d) Fees Earned (e) Withdrawal (f) Wages Expense (g) Investment

Question 2

A government issued general obligation bonds to finance the construction of a new fire station. In the current year, the government incurred 107,000 of interest expense on the debt.

This amount will be reported on the government-wide statement of activities as
A. Expenses of the general government function.
B. Expenses of the public safety function.
C. Interest expenses of the governmental activities.
D. An offset to interest earnings in the General Fund.