The City of Thomasville had the following debt outstanding:
General obligation bonds to be paid from a debt service fund $3,900,000
General obligation bonds to be paid from utility revenues $3,100,000
Revenue bonds to be paid from utility revenues $2,400,000
The amount that should be shown as debt in the utility (enterprise)fund would be:

Question

Quizplus · Accepted Answer

The utility (enterprise) fund should include both the general obligation bonds to be paid from utility revenues ($3,100,000) and the revenue bonds to be paid from utility revenues ($2,400,000), totaling $5,500,000.

The City of Thomasville Had the Following Debt Outstanding