The General Fund of the city of Castle Rock transfers $115,000 to the debt service fund for a $100,000 bond principal and $15,000 interest payment.Subsequent payment of the principal and interest would include
A) A debit to Expenditures - Bond Interest in the debt service fund.
B) A debit to Other Financing Uses - Principal and Interest Payments in the debt service fund.
C) A debit to Interest Expenditures in the General Fund.
D) A debit to Interest Expenditures in the governmental activities accounts.
Correct Answer:
Verified
Q42: Which of the following financial statements are
Q55: Which of the following basic financial statements
Q60: Which of the following is a true
Q61: Which of the following is not true?
A)
Q62: When the debt service fund makes a
Q64: Bonds and other debt of enterprise funds
Q67: "All taxes raised for payment of interest
Q69: If general capital assets are being acquired
Q70: In many jurisdictions,the statutory debt limit is
Q74: How are general long-term liabilities distinguished from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents