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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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9 years ago
The General Fund transfers $500,000 to a Printing Internal Service Fund, which the Internal Service Fund uses to acquire machinery. How should the Internal Service Fund account for the cost of acquiring and using the equipment?
      a.   record the acquisition cost as an expenditure and ignore any depreciation
      b.   record the acquisition cost as an asset and depreciate it over its estimated useful life
      c.   record the acquisition cost as an asset, credit investment in capital assets, do not depreciate the asset, and write off the entire asset when it is disposed of
      d.   record the acquisition cost as an expenditure of the General Fund
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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