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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
In the two-worksheet approach, what type of adjustment will be necessary for interest payable on the balance sheet conversion worksheet?
A.   No adjustment is necessary for interest payable.  This amount is the same in the fund statements and the government-wide statements.
B.   Interest on long-term debt that has been incurred but not paid will need to be added to the interest payable reported on the governmental funds balance sheet.
C.   Interest paid this year that is attributable to the previous year accrual for long-term debt will need to be deducted from interest payable reported on the governmental funds balance sheet.
D.   The net change in accrued interest payable on long-term debt from the beginning of the year to the end of the year will be added to the amount of interest payable reported on the governmental funds balance sheet.
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Diesel
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f_zah1f_zah1
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