3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for $500. It had originally been purchased for S8,000 using GF revenues. It is fully depreciated. Gain on sale of equipment account recorded in the General fund journal as: a) Debit in 500s. b) Credit in 500$. c) Credit in 7500$. should be d) Gain on sale of equipment account will not recorded in general fund journal.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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All oI toe above are
3. Which of the following accounts appears on both the interim and year-end balance
sheets of the General Fund?
a) Revenues.
b) Reserve for encumbrances.
c) Encumbrances.
d) Appropriations.
4. Which of the following would be considered a general capital asset?
a) A vehicle purchased from general fund revenues.
b) A vehicle purchased and maintained by an enterprise fund.
c) A computer purchased from revenues of an internal service fund and used by the
supplies department.
d) Real estate purchased with the assets of a pension trust fund.
5. A machine is sold for S500. It had originally been purchased for $8,000 using GF
It is fully depreciated. Gain on sale of equipment account should be
revenues.
recorded in the General fund journal as:
a) Debit in 500$.
b) Credit in 500$.
c) Credit in 7500$.
d) Gain on sale of equipment account will not recorded in general fund journal.
الولايات المتحدة الأمريكية(
hp
Transcribed Image Text:All oI toe above are 3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for S500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account should be revenues. recorded in the General fund journal as: a) Debit in 500$. b) Credit in 500$. c) Credit in 7500$. d) Gain on sale of equipment account will not recorded in general fund journal. الولايات المتحدة الأمريكية( hp
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