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Author Question: The required statements for an Internal Service Fund include a Statement of a. Changes in net ... (Read 64 times)

sheilaspns

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on: Jul 5, 2018
The required statements for an Internal Service Fund include a Statement of
 
  a. Changes in net assets
  b. Revenues, Expenditures and Changes in Fund Balance
  c. Revenues, Expenditures, and Changes in Net Assets
  d. Revenues, Expenses, and Changes in Net Assets

Question 2

Donner Company is selling a piece of land adjacent to its business. An appraisal reported the market value of theland to be 120,000 . The Focus Company initially offered to buy the land for 107,000 . The companies settled on apurchase price of 115,000 . On the same day, another piece of land on the same block sold for 122,000 . Underthe cost concept, what is the amount that will be used to record this transaction in the accounting records?


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javimendoza7

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

D

Answer to Question 2

115,000


sheilaspns

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

isabelt_18

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

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