The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
1. (Transaction Analysis)
Example: Cash received for licenses during 20X1, $8,000.
Answer: Governmental Funds. General Capital Assets and General Long-Term Liabilities Accounts
GF = General fund
Revenues of $8,000 reported in GF.
EF = Enterprise fund
2. The principal financial statements of business enterprises are the balance sheet, income statement, and statement of cash flows. What similarities and differences are there between these statements and the operating and position statements of a proprietary fund? A governmental fund?
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