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Author Question: If total liabilities decreased by 46,000 during a period of time and owner's equity increased by ... (Read 69 times)

Anajune7

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on: Jul 6, 2018
If total liabilities decreased by 46,000 during a period of time and owner's equity increased by 60,000 during thesame period, the amount and direction (increase or decrease) of the period's change in total assets is
 a. 106,000 increase
  b. 14,000 increase
  c. 14,000 decrease
  d. 106,000 decrease

Question 2

Depreciation expense on assets of the public safety function totaled 195,000 for the year. The conversion worksheet adjustment necessary to record the depreciation expense as part of governmental activities would be
  dr cr
 
  a. Depreciation Expense  Public Safety 195,000Accumulated Depreciation 195,000
  b. Depreciation Expense  Public Safety 195,000Capital Outlay Expenditures 195,000
  c. Capital Outlay Expenditures 195,000Capital Assets 195,000
  d. Capital Outlay Expenditures 195,000
  Accumulated Depreciation 195,000
  e. None of the above.


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mk6555

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Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

A


Anajune7

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Reply 2 on: Jul 6, 2018
Excellent

diana chang

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Reply 3 on: Yesterday
:D TYSM

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