On July 1 Gilbert County Bought Computer Equipment for Use

question 38

Multiple Choice

On July 1 Gilbert County bought computer equipment for use in the administrative offices of the County.The equipment has an estimated useful life of three years and salvage of $10,000.Gilbert County has a 6/30 fiscal year-end.Assuming that the County maintains its books and records in a manner that facilitates the preparation of fund financial statements, the $70,000 cost of this equipment would require which of the following entries?

• A)Debit Expenditures $70,000; Credit Cash $70,000
• B)Debit Equipment $70,000; Credit Cash $70,000
• C)Debit Expenses $70,000; Credit Cash $70,000
• D)No entry in the General Fund

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Definitions:

Deoxyribonucleic Acid

A molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms.

Chromosomes

Thread-like structures in cells made of DNA and proteins that carry genetic information.

Behavior Geneticists

Behavior geneticists are scientists who study the role of genetics in human behavior, including how genetic and environmental factors influence individual differences.

Aggressiveness

The predisposition to engage in hostile or forceful behaviors or attitudes towards others.