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Show how these two transactions should be recorded in the General Fund and governmental activities general journals.

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Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmental activities general journals.;Indicate whether the following revenues would most likely be classified as program revenues or general revenues on the government-wide statement of activities.;1)Unrestricted operating grants that can be used at the discretion of the city council.;2)Capital grants restricted for highway construction.;3)Charges for building inspections.;4)A special assessment for snow removal.;5)Fines and forfeits.;6)Motor vehicle fuel taxes restricted for road repair.;7)Unrestricted investment earnings.

 

Paper#25175 | Written in 18-Jul-2015

Price : $27
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