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Author Question: A new computer, which had been estimated to cost 28,000, was received. The actual cost of the ... (Read 50 times)

nramada

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on: Jul 6, 2018
A new computer, which had been estimated to cost 28,000, was received. The actual cost of the computer was 29,400 . To record this in the special revenue fund,
 
  A. Capital assets should be debited for 29,400
  B. Expenditures should be debited for 28,000
  C. Expenditures should be debited for 29,400
  D. There is no entry in the special revenue fund. The General Capital Assets account should be debited for 28,000.

Question 2

The special journal that is used to record all transactions when cash decreases.
 a. Cash receipts journal
   b. Cash payments journal
   c. Purchase journal
   d. General Journal


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vseab

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

Thanks for your help Worked like a charm.

Answer to Question 2

b


nramada

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Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

lcapri7

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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