« previous next »

Author Question: A government has a general government capital project underway. In the first year of the project, ... (Read 56 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
on: Jul 6, 2018
A government has a general government capital project underway.
 
  In the first year of the project, the government purchased land for a building site for 75,000; signed a contract with a contractor for 8,000,000; was billed 4,500,000 by the contractor for work completed during the year; and paid the contractor 4,050,000 . The land was also paid for. At the end of the first year, what amount of assets should be included in General Capital Assets accounts as a result of this activity?
  a. 75,000
  b. 4,125,000
  c. 4,575,000
  d. 8,075,000

Question 2

What is the recommended order that special journals should be posted to the subsidiary ledgers and the general ledger?
 a. Sales, Purchases, Cash Receipts, Cash Payments
   b. Sales, Purchases, Cash Payments, Cash Receipts
   c. Sales, Cash Receipts, Purchases, Cash Payments
   d. No special order is recommended


aburgess

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jul 6, 2018
Answer to Question 1

C

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Diagram of the general anatomy of a male cat Diagram of the general anatomy of a male cat
Natural capital degradation Natural capital degradation
A General Motors linear EGR Valve. A General Motors linear EGR Valve.
Growth of Government Spending, 1870–2009 Growth of Government Spending, 1870–2009
Chinese new year 2023 Chinese new year 2023
New year kid drawing New year kid drawing
Video: Cellular Defects - Osteoblasts, Osteoclasts and Osteocytes

For a complete list of videos, visit our video library