The city of Trawville has a Water Enterprise Fund that provides potable water

The city of trawville has a water enterprise fund

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The city of Trawville has a Water Enterprise Fund that provides potable water for use by the residents and businesses of the city. The Water Enterprise Fund also provides potable water to other city departments. The Water Enterprise Fund bills the General Fund ($1,800) and the Golf Course Enterprise Fund ($1,600) for their water use during the most recent month. What journal entry should be recorded in the Water Enterprise Fund? Select one:a.Due from General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,800Due from Golf Course Enterprise Fund . . . . . . . . . . . . . . . . .1,600Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3,400b.
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Due from General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Due from Golf Course Enterprise Fund . . . . . . . . . . . . . . . . . . 1,600 Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,400 c. Due from General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Due from Golf Course Enterprise Fund . . . . . . . . . . . . . . . . . . . . 1,600 Transfer in from General Fund . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Transfer in from Golf Course Enterprise Fund . . . . . . . . . . . 1,600 d. Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,400 Due to General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Due to Golf Course Enterprise Fund. . . . . . . . . . . . . . . . . . 1,600 Due from General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Due from Golf Course Enterprise Fund . . . . . . . . . . . . . . . . . 1,600 Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,400 An Enterprise Fund purchases $100,000 of capital assets for cash. How should the purchase of capital assets be reported in the Enterprise Fund? Select one: a.
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Expenses—capital asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000b.Capital assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000c.Expenditures—capital outlay . . . . . . . . . . . . . . . . . . . . . . . .100,000Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000d. None of the above.Capital assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100,000
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  • Fall '16
  • Generally Accepted Accounting Principles, Internal Service Fund, Golf Course Enterprise Fund

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