Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A local government transferred RO 100,000 from the general fund to the new building construction fund account. Which one of the following journal entries records

A local government transferred RO 100,000 from the general fund to the new building construction fund account. Which one of the following journal entries records this transaction in the capital project fund?

a.

None the options

b.

Bank Account Dr. 100,000, Transfer from general fund Account Cr. 100,000

c.

Transfer from general fund Account Dr. 100,000, Bank Account Cr. 100,000

d.

Transfer to capital project fund Account Dr. 100,000, Bank Account Cr. 100,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions