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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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10 years ago
Assume the General Fund has two outstanding investments as of its 6/30/X5 year end, as follows:
•   $100,000 Certificate of Deposit, 6 month original maturity, 3% annual interest rate, purchased 4/30/X5
•   $500,000 Commercial Paper, 8 month original maturity, 3% annual interest rate, purchased 1/31/X5
The interest revenue that would be recorded in the GAAP-based external financial statements for the General Fund as of 6/30/X5 would be
A.   $500.
B.   $6,250.
C.   $6,750.
D.   $11,500.
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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10 years ago
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goji.go Author
wrote...
#2
10 years ago
Thanks so much f_zah1.

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