Author Question: A governmental entity issues 3,000,000 of general obligation bonds at a 1 premium to finance the ... (Read 78 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
A governmental entity issues 3,000,000 of general obligation bonds at a 1 premium to finance the construction of a new public safety center. The entry to record the bond issuance in the Debt Service Fund would be
 
   dr cr
 
  a. Cash 3,000,000 Other Financing Sources  Bonds 3,000,000
  b. Cash 3,030,000 Other Financing Sources  Bonds 3,000,000 Other Financing Sources  Premium 30,000
  c. Cash 3,000,000 Expenditures 30,000 Other Financing Sources  Bonds 3,000,000
   Other Financing Sources  Premium 30,000
  d. Cash 3,030,000
   Bonds Payable 3,030,000
  e. None of the above.

Question 2

Operating Expenses consist of
 a. Interest Expense and General Expenses.
  b. Selling Expenses and Cost of Goods Sold.
  c. Interest Expense and Selling Expenses.
  d. General Expenses and Selling Expenses.
  e. Interest Expense and Cost of Goods Sold.



SVictor

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

E

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

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?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

For a complete list of videos, visit our video library