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goji.go goji.go
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Posts: 5977
Rep: 293 0
9 years ago
Nathan Township's General Fund transfers three vehicles to the Internal Service Fund. The vehicles, which have a useful life of five years, are transferred at the end of their fourth year. The original cost for all three vehicles totaled $75,000. The entry in the Internal Service Fund would be
      Debit   Credit
A.   Vehicles
   Accumulated Depreciation – Vehicles
   Net Investment in Capital Assets   $75,000   
$60,000
15,000
B.   Vehicles
   Accumulated Depreciation – Vehicles
   Capital Contributions   $75,000   
$60,000
15,000
C.   Vehicles
   Capital Contributions   $15,000   
$15,000
D.   Vehicles
   Accumulated Depreciation – Vehicles
   Transfer from General Fund   $75,000   
$60,000
15,000
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Diesel
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f_zah1f_zah1
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Posts: 10774
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9 years ago
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#2
3 years ago
thank you
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