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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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Posts: 5977
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9 years ago
If a General Fund purchases capital assets with cash, what effect will this transaction have on the assets and fund balance, respectively, of the fund?
A.   Neither assets nor fund balance will change (the increase in capital assets will offset the decrease in cash).
B.   Both assets and fund balance will increase.
C.   Both assets and fund balance will decrease.
D.   No effect since the purchase is recorded only in the General Capital Assets account.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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Posts: 10774
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

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