Several years ago, a city established a fund to accumulate resources to retire t
ID: 2607192 • Letter: S
Question
Several years ago, a city established a fund to accumulate resources to retire the general obligation bonds that were issued to construct a new public works facility. This year, the city transferred $50,000 to this fund from its property tax revenues. The fund also received $10,000 in investment earnings this year. The bonds that matured this year were retired. This year's transactions require accounting recognition in which funds?
Debt Service Fund and Permanent Fund
Capital Projects Fund and Debt Service Fund
General Fund and Capital Projects Fund
General Fund and Debt Service Fund
A.Debt Service Fund and Permanent Fund
B.Capital Projects Fund and Debt Service Fund
C.General Fund and Capital Projects Fund
D.General Fund and Debt Service Fund
Explanation / Answer
General fund and capital projects fund........... . . . . . . . . . ..... ... . . ..
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.