Listed below are four accounts from a governmental fund operating statement. Discuss how and why these accounts
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Expenditures—Capital Outlay—Equipment . . . . . . . . . . . . . . . . . . $ 500,000
Expenditures—Current—General Government . . . . . . . . . . . . . . . 1,800,000
Other Financing Sources—Bonds . . . . . . . . . . . . . . . . . . . . . . . . . 3,000,000
Other Financing Sources—Proceeds from sale of equipment . . . . 30,000
Assume the cost of the equipment sold was $185,000 and the accumulated depreciation was $170,000.
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Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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