Multiple Choice
On January 1,2014,the General Fund contributes $200,000 cash to the Internal Service Fund.On January 1,2014,the General Fund also loans $100,000 cash to the Internal Service Fund.On January 1,2014,what journal entry does the Internal Service Fund prepare?
A) debit Cash $300,000,credit Other Financing Sources $300,000
B) debit Cash $300,000,credit Other Financing Sources $200,000,credit Advance from General Fund $100,000
C) debit Cash $300,000,credit Advance from General Fund $300,000
D) debit Cash $300,000,credit Contributed Capital $200,000,credit Advance from General Fund $100,000
Correct Answer:

Verified
Correct Answer:
Verified
Q17: What basis of accounting is used by
Q18: On the Statement of Net Position,in place
Q19: Based upon the cash flow information provided
Q20: In a Statement of Cash Flows for
Q21: Journalize the following municipal zoo transactions in
Q23: Enterprise funds use full accrual accounting procedures.
Q24: The fixed assets and long-term liabilities associated
Q25: The trust fund for a school library
Q26: Thoroughgood County has a municipal golf course
Q27: Willborough County had the following transactions in