Author Question: After posting the total goods sold on account to the Accounts Receivable account, the accountant ... (Read 54 times)

karen

  • Hero Member
  • *****
  • Posts: 537
After posting the total goods sold on account to the Accounts Receivable account, the accountant places a check mark below the Accounts Receivable column in the sales journal.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The police department of the city of Newport purchased 10 new patrol cars at the beginning of the new budget year for a total cash price of 250,000 . This purchase will
 
  a. increase capital assets reported in the General Fund by 250,000
  b. have no effect on capital assets in the General Fund, but will decrease fund balance in the General Fund by 250,000
  c. increase capital assets reported in the General Fund by 250,000, as well as decrease fund balance in the General Fund by the same amount.
  d. have no effect on capital assets or fund balance.
  e. increase both capital assets and fund balance in the General Fund by 250,000.



rleezy04

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

False

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

For a complete list of videos, visit our video library