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
Q61: The General Fund of the City of
Q62: Explain the essential differences between regular serial
Q62: "The entire debt arising from the acquisition
Q63: In the current fiscal year,St.George County issued
Q69: On March 2,2016,20-year,6 percent,general obligation serial bonds
Q71: Explain the financial reporting for special assessment
Q72: On March 2,2016,20-year,6 percent,general obligation serial bonds
Q73: The sale of revenue bonds by a
Q74: How are general long-term liabilities distinguished from
Q75: A government's MD&A states that government-wide net
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