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Question 1:
1. A department of a local government began operations at the beginning of the current fiscal year with $250,000 cash. During the fiscal year, the department made cash disbursements for the following: Salaries and other personnel costs, $100,000 Office rent and utilities, $24,000 . Retirement of debt principal, $10,000; payment of interest, $2.200 Purchased equipment at the beginning of the fiscal year for $30,000; the equipment is expected to last 6 yeans and have a salvage value of $6,000 . Photocopier rental, $10,500 Based on the preceding transactions, compute total annual expenditures for this department assuming it performs governmental-type activities and is accounted for in the General Fund Then compute total annual expenses for this department assuming it performs activities within an Enterprise Fund.
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