When capital assets purchased from General Fund revenues were received, the appropriate journal entry was made in
Question:
When capital assets purchased from General Fund revenues were received, the appropriate journal entry was made in the General Capital Assets accounts. What account, if any, should have been debited in the General Fund?
a. No journal entry should have been made in the General Fund.
b. Capital Assets.
c. Expenditures.
d. Due from capital accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The correct answer is a No journal entry should have been made in the General Fund When capital ...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
8+ Reviews
22+ Question Solved
Related Book For 
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
Question Posted:
