The following items were among Birch Villages' capital expenditures during the year that ended December 31: Equipment
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Question:
The following items were among Birch Villages' capital expenditures during the year that ended December 31:
Equipment for village tax collector's office | $40,000 |
Vehicles for village electric utility | $60,000 |
What amounts should have been recorded in the General Fund and Enterprise Fund for the increase in equipment during the year ended December 31, assuming the electric utility is accounted for in an Enterprise Fund?
A. General Fund: $0; Enterprise Fund: $0
B. General Fund: $0; Enterprise Fund: $60,000
C. General Fund: $40,000; Enterprise Fund: $60,000
D. General Fund: $100,000; Enterprise Fund: $0
Related Book For
Governmental and Nonprofit Accounting Theory and Practice
ISBN: 978-0133799569
11th edition
Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
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