When a cash and investment pool of a certain city was established, the debt service fund transferred investments to the pool having a cost of $3,000,000 but a current fair market value of $3,100,000. To record this transaction, the journal entry made by the debt service fund will include:a. A debit to Equity in Pooled Cash and Investments in the amount of $3,000,000. b. A credit to Revenues-Change in Fair Value of Investments in the amount of $100,000. c. A debit to Investments in the amount of $3,000,000. d. A credit to Investments in the amount of $3,100,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When a cash and investment pool of a certain city was established, the debt service fund transferred investments to the pool having a cost ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
At the beginning of August, Hogancamp Corporation had $26,000 of raw materials on hand. During the month, the company purchased an additional $73,000 of raw materials.
Answers (1)
Lucy told jim her house is for sale for $252,000. jim told lucy he is very interested but wanted his wife to see it first. that evening, jim's wife drives by the home.
Answers (1)
Budget Solutions has determined from its flexible budget that selling costs for actual level activity for a period should have been $25,000. Actual selling costs incurred during the period were $28,000.
Answers (1)
The type of credit card you want to pay in full on time every time is ... A. Low Credit Limit, High interest B. Low Credit Limit, Low interest C. High Credit Limit, Low interest D. High Credit Limit, High interest
Answers (1)
How do slanted questions affect the results of public polls
Answers (1)
New Questions in Business
Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractual obligation using incapacity as a defense?
Answers (1)
Price per Ticket Quantity Demanded $13 1,000 11 2,000 9 3,000 7 4,000 5 5,000 3 6,000 Refer to the information and assume the stadium capacity is 5,000.
Answers (1)
Carol Bates, a young, dynamic, and affluent banker, likes to shop online and try out new products. She likes to keep herself updated about the latest products introduced in the market.
Answers (1)
The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue.
Answers (1)
Watching consumers' actions during the postpurchase evaluation step of the consumer decision-making process led to the development of Chipotle's best-selling product, the Multiple Choice a. fried burrito. b. soft taco. c. taco salad. d.
Answers (1)