Ibri township issued the following bonds during the year. The bond issued to purchase equipment for vehicle repair service that is accounted for in an internal service fund RO 30,000,The bonds issued to construct a new city hall RO 10,000The bonds issued to improve its water utility, which is accounted for in an enterprise fund RO 50,000.The amount of bond issued to be reported in the general fund is a.RO 10,000b.RO 50,000c.None of the optionsd.RO 30,000

Note: None of the bonds mentioned in the question will be reported in general fund. These bonds are…

Answered: Ibri township issued the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ibri township issued the following bonds during the year.

The bond issued to purchase equipment for vehicle repair service that is accounted for in an internal service fund RO 30,000,
The bonds issued to construct a new city hall RO 10,000
The bonds issued to improve its water utility, which is accounted for in an enterprise fund RO 50,000.

The amount of bond issued to be reported in the general fund is

RO 10,000

RO 50,000

None of the options

RO 30,000

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