General funds unreserved fund balance, Accounting Basics

+44 141 628 6080
[email protected]

General funds unreserved fund balance

What is the effect on the General Funds' unreserved fund balance when capital assets are purchased during a year from General Fund revenues?

A. There is no effect, since one asset (cash) is replaced by another (capital asset)

B. Unreserved fund balance is decreased

C. Unreserved fund balance is increased

D. None of the above, capital assets must be purchased through a capital projects fund

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: General funds unreserved fund balance

Reference No:- TGS056332

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Estimated intrinsic value per share of common stock

The company has $200 million of long-term debt plus preferred stock, and it has 50 million shares of common stock outstanding. What is Petry's estimated intrinsic value per share of common stock?

Q : Interest revenue from municipal bonds

Pretax accounting income is $200,000 in 2010, $300,000 in 2011, and $250,000 in 2012. Pretax accounting income includes interest revenue from municipal bonds (not taxable). This interest revenue is $25,000 in 2010, $30,000 in 2011, and $32,000 in

Q : Determine short-term financing position for subsidiary

A US based multinational company has two subsidiaries, one in Mexico and one in Japan. Forecasts of business operations indicate the following short-term financing position for each subsidiary

Q : Job of installing the irrigation system

Why would Waterways choose machine hours as the cost driver for the overhead rather than direct labor cost? What would Waterways be likely to choose as the cost driver for the overhead for the job of installing the irrigation system and why?

Q : General funds unreserved fund balance

What is the effect on the General Funds' unreserved fund balance when capital assets are purchased during a year from General Fund revenues?

Q : Journal entries to record transaction and interest expense

At the beginning of the year Lambert Motors issued a 1 year, $116,000 note. The stated interest rate on the note is 8%. By issuing the note Lambert acquired some office equipment with a fair value of $107893. Prepare the journal entries to record

Q : Amount realized from the sale of property

Ashley sells real property for $280,000. The buyer pays $4,000 in property taxes that had accrued during the year while the property was still legally owned by Ashley. In addition, Ashley pays $14,000 in commissions and $3,000 in legal fees in con

Q : Problem on after-tax cash flow

Scorch & Burn Fire Extinguishers, Inc. had an operating income (EBIT) of $260,00 last year. The firm had $18,000 in depreciation expenses, $15,000 in interest expenses and $60,000 in selling, general, and administrative expenses. If Scorch &am

Q : Determining the depreciation expense

Fanell Corporation purchased a depreciable asset for $630,000 on January 1, 2010. The estimated salvage value is $63,000, and the estimated total useful life is 9 years. The straight-line method is used for depreciation. In 2013, Fanestill changed

1937864

Questions
Asked

3,689

Active Tutors

1441106

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: General funds unreserved fund balance

Reference No:- TGS056332

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Estimated intrinsic value per share of common stock

Q : Interest revenue from municipal bonds

Q : Determine short-term financing position for subsidiary

Q : Job of installing the irrigation system

Q : General funds unreserved fund balance

Q : Journal entries to record transaction and interest expense

Q : Amount realized from the sale of property

Q : Problem on after-tax cash flow

Q : Determining the depreciation expense

Identify problems and concerns that contributed

How coastlines are vulnerable to multiple climate change

What cases does female status tend to be highest

How does the pyramid change

Which of the things happened first

Symbolic interactionism took off as a theoretical approach

Which is a criticism of marxist/conflict theories

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: General funds unreserved fund balance

Reference No:- TGS056332

Recent Questions Asked Accounting Basics

Q : Estimated intrinsic value per share of common stock

Q : Interest revenue from municipal bonds

Q : Determine short-term financing position for subsidiary

Q : Job of installing the irrigation system

Q : General funds unreserved fund balance

Q : Journal entries to record transaction and interest expense

Q : Amount realized from the sale of property

Q : Problem on after-tax cash flow

Q : Determining the depreciation expense

Asked Questions