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QUESTION 11 The Trumbull County legislature voted to set aside $500,000 to have new street signs produced for county roads. Required: For governmental fund financial
QUESTION 11 The Trumbull County legislature voted to set aside $500,000 to have new street signs produced for county roads. Required: For governmental fund financial statements, prepare the journal entry for the adjustment to the fund balance of the general fund. QUESTION 12 For a government, what kinds of operations are accounted for using a proprietary fund? Give three examples. QUESTION 10 In May of 2018, the Town of Anthrop receives a $60,000 grant restricted for transporting all senior citizens to polling locations on Election Day in November of 2018 Required: Prepare the journal entry, and identify the fund in which it is recorded, to record the receipt of the grant. QUESTION 19 A county enacted a special tax levy and the money must be used to buy unused farmland for environmental preservation. What kind of fund should be used to record the revenues generated by the tax
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