Author Question: The design of a cash payments journal can help the accountant reduce the number of postings ... (Read 46 times)

LaDunn · **on:** Jul 6, 2018

The design of a cash payments journal can help the accountant reduce the number of postings required.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A government has the following general government capital assets:

Streets and roads--17,000,000
Buildings--20,000,000
Equipment--4,000,000
Assets acquired under capital leases--1,000,000

What is the minimum amount of general capital

assets the government may report under GAAP?
a. 42 million
b. 41 million
c. 25 million
d. 24 million