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If a General Fund purchases capital assets with cash, what effect will this tran

goji.go

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If a General Fund purchases capital assets with cash, what effect will this tran

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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f_zah1

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goji.go Author

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10 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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10 years ago

You're very welcome!

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