An Enterprise Fund entered into a capital lease for the purchase of equipment. The capitalizable cost of
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An Enterprise Fund entered into a capital lease for the purchase of equipment. The capitalizable cost of the asset was $300,000 and fund made a $30,000 down payment. In the year of inception the Enterprise Fund would report.
Long-term liabilities of $300,000
Another financing use of $270,000 and expenses of $30,000
Expenses of $30,000
Capital assets of $300,000
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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