Nolanville starts fiscal 20Xl with $25,000 in supplies. During the year, it orders $180,000 in supplies, receives
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Nolanville starts fiscal 20Xl with $25,000 in supplies. During the year, it orders $180,000 in supplies, receives $170,000, and uses $190,000. It accounts for inventories on the consumption basis. In its 20Xl governmental fund financial statements, it should report
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Expenditure a. $180,000 b. $170,000 c. $190,000 d. $190,000 Nonspendable Fund Balance $ 0 $5,000 $ 0 $5,000
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Related Book For
Government And Not For Profit Accounting Concepts And Practices
ISBN: 9781119803898
9th Edition
Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese
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