Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Select from the option list provided the item that best indicates the part of Shar's governmental fund statement of revenues, expenditures, and changes in fund
Select from the option list provided the item that best indicates the part of Shar's governmental fund statement of revenues, expenditures, and changes in fund balances affected by each transaction or activity in the general fund below. Each choice may be used once, more than once, or not at all. Transaction I Activity Effect on the statement 1. Shar applied for and received a state grant. Eligibility requirements have been met. 2. The general fund paid pension fund contributions that were reimbursed by the internal service fund. 3. The general fund paid $60,000 for electricity supplied by Shar's electric utility enterprise fund. 4. General fund resources were used to subsidize Shar's swimming pool enterprise fund. 5. General fund resources totaling $90,000 were lent to an internal service fund. Full repayment is expected within a reasonable time. 6. A motor pool internal service fund received $80,000 from the general fund. This amount will not be repaid unless the motor pool is disbanded. 7. General fund resources were used to pay amounts due on an operating lease. Select an option below O Revenues O Expenditures O Other financing sources O Other financing use O Special item A Mat affAntAd RESET CANCEL ACCEPT
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started