Please list the name of the fund(s) in which each of the following transactions or events would be recorded.

(1) $200,000 was appropriated, to be advanced from funds on hand, to finance the establishment of a City Motor Pool for servicing city-owned transportation equipment.

(2) A contribution of $500,000 was received from a private citizen. The use of the income earned on the investment of this sum of money was specifically designated by the donor.

(3) $750,000 of real estate and personal property taxes, which had not been assessed or levied for any specific purpose, were collected by the city.

(4) Interest of $50,000 was paid on the City Hall serial bonds.

(5) Interest of $75,000 was received on the Investment on Mortgage Bonds are set aside for the retirement of the City Hall mortgage bonds.

(6) The City Motor Pool was reimbursed $100,000 for services on the equipment of the fire and police departments.

Answer rating: 100% (QA)

Solution of all 6 parts is given below 1 200000 was appropriated to be advanced from funds on hand to finance the establishment of a City Motor Pool f... View the full answer