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goji.go goji.go
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9 years ago
A general government department donates a capital asset with an original cost of $50,000 to an Enterprise Fund. The net book value as of the date of donation is $17,500. The entry that should be recorded by the Enterprise Fund would be
A.   A debit to capital assets of $17,500 and a credit to transfer in of $17,500.
B.   A debit to capital assets of $50,000 and credits to accumulated depreciation of $32,500 and transfer in of $17,500.
C.   A debit to capital assets of $17,500 and a credit to capital contribution of $17,500.
D.   A debit to capital assets of $50,000 and credits to accumulated depreciation of $32,500 and capital contribution of $17,500.
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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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