Question
On January 1, Year 1, the general fund of a state government made a capital acquisition of $50,000. The assets useful life is 10 years,
On January 1, Year 1, the general fund of a state government made a capital acquisition of $50,000. The assets useful life is 10 years, and the government uses the straight-line basis of depreciation. What is the complete journal entry that should be recorded on December 31, Year 1, when reconciling the fund financial statements to the government-wide financial statements?
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Sarbanes Oxley Internal Controls Effective Auditing With AS5 CobiT And ITIL
Authors: Robert R. Moeller
1st Edition
0470170921, 978-0470170922
