Identify Whether the Entries Below Are an Adjusting Entry (AE)

question 53

Short Answer

Identify whether the entries below are an adjusting entry (AE) or a closing entry (CE).
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Definitions:

Capital Fund

Resources accumulated by an entity to finance long-term projects or investment, not intended for regular operational expenses.

General Fund

The primary operating fund of a governmental entity, covering most basic governmental functions and activities.

Endowment Fund

A financial asset donation made to an institution that uses the resulting investment income for a specific purpose.

Bequest

A gift of personal property by means of a will.