The Capitol City Golf Course,an enterprise fund,purchased new furniture for use in the golf pro's office.The debit for the entry to record the event should be to

Question

Quizplus · Accepted Answer

The purchase of new furniture for the golf pro's office should be recorded as an increase in the asset account Furniture and Fixtures, which is categorized as a capital asset. Therefore, the appropriate debit entry would be to Furniture and Fixtures. Expenditures and Purchases are not appropriate accounts, as they are typically used for recording expenses related to day-to-day operations. General capital assets is also not appropriate, as it is a category used for the overall reporting of all capital assets owned by the enterprise fund, rather than for specific asset purchases.

The Capitol City Golf Course,an Enterprise Fund,purchased New Furniture for Use