Use the Following Information to Answer Questions

question 45

Multiple Choice

Use the following information to answer questions
Voters in Lincoln School District approved the construction of a new high school and approved an $8 million bond issue with a stated rate of interest of 6% to fund the construction.Bids were received and the low bid was $8 million.When the bonds were issued, they sold for face value less bond underwriting fees of $.5 million.The School Board voted to fund the balance of the construction by a transfer from the general fund.
-The entry in the capital projects fund to record the additional funding for the construction would be

• A)Debit Due from general fund $.5 million; Credit Other financing sources-transfer $.5 million.
• B)Debit Due from general fund $.5 million; Credit Revenue $.5 million.
• C)Debit Cash $.5 million; Credit Due to general fund $.5 million.
• D)Debit Other financing sources $.5 million; Credit Due to general fund $.5 million.

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Definitions:

Zygotes

The initial cell formed when a new organism is conceived, resulting from the union of sperm and egg cells.

Genomes

The complete set of genes or genetic material present in a cell or organism, encoding for its development, function, and reproduction.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Scaffold

A framework that offers children temporary support as they develop higher levels of thinking.