Ask Question
4 May, 16:47

The General Fund has a transfer out to a Debt Service Fund of $32,000 and a transfer in from an Electric Utility Enterprise Fund of $48,000. The Debt Service Fund has a transfer in from the General Fund of $32,000, and the Electric Utility Enterprise Fund has a transfer out to the General Fund of $48,000. What will be the amount of transfers reported in the government-wide statement of activities? Select one: A. Transfers of $32,000 B. Transfers of $48,000 C. Transfers of $80,000 D. No transfers are reported.

+1
Answers (1)
  1. 4 May, 18:06
    0
    C. Transfers of $80,000

    Explanation:

    The General Fund transfer out - $32,000 Electric Utility Enterprise Fund in + $48,000

    Net transfer $16,000

    Debt Service Fund in + $32,000

    Electric Utility Enterprise Fund out - $48,000

    The amount of transfers reported in the government-wide statement of activities is total of $32,000 transfer out of the General Fund to Debt Service Fund and $48,000 transfer from Electric Utility Enterprise Fund to the General Fund = $80,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The General Fund has a transfer out to a Debt Service Fund of $32,000 and a transfer in from an Electric Utility Enterprise Fund of ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers