Question
[Para. 4a-16] The year-end balance of supplies inventory is $7,000. Required: Adjust the inventory of supplies account in both the General Fund and governmental activities
- [Para. 4a-16] The year-end balance of supplies inventory is $7,000.
Required: Adjust the inventory of supplies account in both the General Fund and governmental activities journals. At the government-wide level expenses in General Government can be reduced by $7,000. In the General Fund, fund balance should be classified as nonspendable.
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Financial Accounting Tools For Business Decision-Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Canadian Edition
0470833378, 978-0470833377
