Question
New City entered into a capital lease agreement for several new dump trucks to be used in general government activities. Assuming the City maintains its
New City entered into a capital lease agreement for several new dump trucks to be used in general government activities. Assuming the City maintains its books and records in a manner that facilitates the preparation of the fund financial statements, acquisition of these dump trucks would require entries in which of the following funds and/or schedules?
A. General Fund
B. General Fund and Schedules of changes in long term debt obligations
C. General Fund and schedule of General fixed assets
D. General Fund, schedule of General fixed assets and Schedules of General ong term debt obligations.
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