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Author Question: Unearned Subscriptions is classified as a liability account. a. True b. False Indicate whether ... (Read 17 times)

jayhills49

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on: Jul 6, 2018
Unearned Subscriptions is classified as a liability account.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The Enterprise Fund of Government A entered into a capital lease for the purchase of equipment. The capitalizable cost of the asset was 300,000 and government made a 30,000 downpayment. In the year of inception the Enterprise Fund would report
 
  a. expenses of 30,000
  b. capital assets of 300,000
  c. long-term liabilities of 270,000
  d. both items a and c.
  e. both items b and c.


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sabina576

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

True

Answer to Question 2

E


jayhills49

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Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

Kedrick2014

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Reply 3 on: Yesterday
Excellent

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