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Nathan Township's General Fund Transfers Three Vehicles to the Internal

Question 15

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Nathan Township's General Fund transfers three vehicles to the Internal Service Fund. The vehicles, which have a useful life of five years, are transferred at the end of their fourth year. The original cost for all three vehicles totaled $75,000. The entry in the Internal Service Fund would be  Debit Credit  A. Vehicles. $75,000 Accumulated Depreciation - Vehicles$60,000 Net Investment in Capital Assets 15,000B.  Vehicles. $75,000Accumulated Depreciation - Vehicles $60,000Capital Contributions 15,000 C.  Vehicles.$15,000Capital Contributions $15,000 D.  Vehicles. $75,000 Accumulated Depreciation - Vehicles$60,000 Transfer from General Fund15,000\begin{array}{llr}&&\text { Debit }&\text {Credit }\\\text { A.} & \text { Vehicles. } &\$75,000\\ &\text { Accumulated Depreciation - Vehicles} &&\$60,000\\ &\text { Net Investment in Capital Assets } &&15,000\\ \\\text {B. } & \text { Vehicles. } &\$75,000\\ &\text {Accumulated Depreciation - Vehicles } &&\$60,000\\ &\text {Capital Contributions } &&15,000\\ \\\text { C. } & \text { Vehicles.} &\$15,000\\ &\text {Capital Contributions } &&\$15,000\\ \\\text { D. } & \text { Vehicles. } &\$75,000\\ &\text { Accumulated Depreciation - Vehicles} &&\$60,000\\ &\text { Transfer from General Fund} &&15,000\\\end{array}

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