This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The City of Ruth has been awarded a 1,000,000 federal reimbursement grant to improve bike trails. ... (Read 59 times)

NguyenJ

  • Hero Member
  • *****
  • Posts: 516
on: Jul 6, 2018
The City of Ruth has been awarded a 1,000,000 federal reimbursement grant to improve bike trails. The city has incurred 418,000 of qualifying expenditures to date, for which the federal government has reimbursed the city 180,000 .
 
  How much should the city of Ruth show as due from the federal government?
  A. 820,000.
  B. 582,000.
  C. 418,000.
  D. 238,000.

Question 2

Which of the following statements is true concerning accounting and financial reporting practices related to capital asset acquisitions?
 
  A. Routine capital purchases such as vehicles and equipment often may be financed and accounted for in a General Fund.
  B. Most capital lease transactions related to governmental funds are accounted for in either the General Fund or a Debt Service Fund.
  C. Capital Project Funds may be used only for acquisition or construction of major capital facilities.
  D. Most capital projects last only for on fiscal year.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

spencer.martell

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

A


NguyenJ

  • Member
  • Posts: 516
Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Wolf Spider in Maricopa City, Arizona, roughly 25mm (1 inch) while legs were retracted Wolf Spider in Maricopa City, Arizona, roughly 25mm (1 inch) while legs were retracted
Bike in Tree Bike in Tree
Can We Improve the Tsunami Warning System Can We Improve the Tsunami Warning System
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
Working and Living and Playing in the City Dump of Phnom Penh, Cambodia Working and Living and Playing in the City Dump of Phnom Penh, Cambodia
C'mon New Bike - Bart Simpson GIF C'mon New Bike - Bart Simpson GIF
Video: How eudicots (true dicots) differ from monocots Animation

For a complete list of videos, visit our video library