Can anyone help me with these multiple choice question? The objectives of financ

Question

Can anyone help me with these multiple choice question?

The objectives of financial reporting for capital assets should be to provide information Mariano County traded in a used pickup for a new pickup truck with a sticker price of $44,000. The old pickup had a fair value of $26,000, historical cost of $45,000, and accumulated depreciation of $18,000. The dealer took the old truck and $15,000 for the new truck. The new truck should be reported on the government-wide financial statements at The amount of gain or loss that should be recognized on this transaction in the general fund financial statements is: The amount of gain or loss that should be recognized on this transaction in the government-wide financial statements is Hilltop School District receives a donation often computers from Computer Hut, a local computer firm. The cost to Computer Hut of each computer is $2,500. The retail value of each computer is $3,000. Assuming that the district maintains its books and records in a manner that facilitates the preparation of the fund financial statements, what is the appropriate entry in the general fund to record this donation?

Explanation / Answer

3. d

4. b

5. a

6. b

7. c

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