The city of greenville had a balance in the reserve for, Ask an Expert

Accounting

The City of Greenville had a balance in the Reserve for Encumbrances account at the end of 2008 in the amount of $30,000. During 2009, all purchase orders related to the $30,000 were filled and the invoice amount was $30,500. Which of the following would be TRUE regarding the Statement of Revenues, Expenditures and Changes in fund balances for 2009? (assume encumbrances do not lapse)

A. The amount shown for expenditures would not include items related to orders placed in 2008

B. The amount shown for expenditures would include only the $30,000

C. The amount shown for expenditures would include only the $500

D. The amount shown for expenditures would include the $30,500

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M956399

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Accounting fundamentals assignment -financial statement

Accounting Fundamentals Assignment - Financial Statement Analysis - This assignment involves analysing the financial statements and other information relating to a number of Australian public companies. These companies a ...

What do you mean by winter compensation from

What do you mean by winter compensation from contributions

Question - seven star corporation purchased a piece of

Question - Seven Star Corporation purchased a piece of equipment at the beginning of 2012. The equipment cost $140,000. Its estimated service life is 8 years and has an expected salvage value of $8,000. The sum-of-the-ye ...

Question - aztec company sells its product for 160 per unit

Question - Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 3,500 $560,000 May (actual) 2,400 $384,000 June (budgeted) 5,000 $800,000 July (budgeted) 4 ...

Question - legacy issues 325000 of 5 four-year bonds dated

Question - Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date. Determ ...

Question instructions provide complete answers to the

Question: Instructions: Provide complete answers to the following two problems: 1. Prepare the General Ledger journal entries for the General Fund for the Village of Bath for the year ended December 31, 2017. • The budge ...

Question - pharoah company traded a used welding machine

Question - Pharoah Company traded a used welding machine (cost $10,260, accumulated depreciation $3,420) for office equipment with an estimated fair value of $5,700. Pharoah also paid $3,420 cash in the transaction. Prep ...

Questions -q1 at december 31 2018 lyndseys boutique had

Questions - Q1. At December 31, 2018, Lyndsey's Boutique had 1,000 gift certificates outstanding, which had been sold to customers during 2018 for $75 each. Lyndsey's business operates on a gross profit of 60 percent of ...

Question texas co established the following overhead cost

Question: Texas Co. established the following overhead cost pools and cost drivers: Budgeted Estimated Overhead Cost Pool Overhead Cost Driver Cost Driver Level Quality controls $780,000 # of inspections 26,000 inspectio ...

Question - hardcastle ltd had sales of 3 000 000 and net

Question - Hardcastle Ltd. had sales of $3 000 000 and net operating income of $900 000. Operating assets during the year averaged $1 500 000. The manager of Hardcastle is considering the purchase of a new machine which ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert