A government transfers equipment with a book value of $600,000 from its General Capital Assets accounts to

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A government transfers equipment with a book value of $600,000 from its General Capital Assets accounts to an Enterprise Fund. How is this transaction reported in the Enterprise Fund statement of revenues, expenses, and changes in fund net position?

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Question Posted: Oct 25, 2014 04:59 AM

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A government transfers equipment with a book value of $600,000 from its General Capital Assets accounts to

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The transaction is reported as a capital contribution equal to the carrying amount of th...View the full answer

Governmental and Nonprofit Accounting

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