Question 3Answer:70,000 + 39,000 = 119,000Question 6Answer: Enterprise funds.Question 9Answer: $0Question 12Answer:If conditions are met, recording the sculpture as a capital asset is optional.Question 15Answer:Because the sidewalks qualify as infrastructure, the asset is viewed in the same way as land sothat no depreciation is recorded.Question 18Answer:It must have specifically defined geographic boundaries.Question 21Answer:Amount to be reported in a merger = net book value of the two buildingsAmount to be reported in a merger = 3.6 million + 5.2 millionAmount to be reported in a merger = $ 8.8 millionQuestion 27Part aEnterprise fundLeased assetDepreciation expenseAccumulated depreciationInterest expenseReduction in liability$$$$$28,7504,7924,7922,8753,125Lease Liability$25,625$$$$$$33,3506,6706,6703,3354,66528,685$$33,35033,350$$3,3354,665General fundLeased assetDepreciation expenseAccumulated depreciationInterest expenseReduction in liabilityLiabilityPart bGeneral fundInitial recording:ExpendituresOther financial sourcesPayments:Expenditures interestExpenditures principalQuestion 30Par ...
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