Question: The following items were among Payne Township's General Fund expenditures during the year ended July 31, 20X3: How much should be classified as capital assets

The following items were among Payne Township's General Fund expenditures during the year ended July 31, 20X3:

Computer for tax collector's office. Equipment for Township Hall $44,000 80,000


How much should be classified as capital assets in Payne's General Fund balance sheet at July 31, 20X3?

a. $124,000.

b. $80,000.

c. $44,000.

d. $0.

Computer for tax collector's office. Equipment for Township Hall $44,000 80,000

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