Northern University Received State Appropriations as Follows

question 33

Multiple Choice

Northern University received state appropriations as follows:
•Unrestricted general purposes $1,300,000
•Capital outlay,set aside for specific projects 1,700,000
What is the journal entry to record this event?

• A) Cash and Cash Equivalents 1,300,000 Restricted Cash and Cash Equivalents 1,700,000
• Nonoperating Revenues - State Appropriations 1,300,000
• Capital Appropriations 1,700,000
• B) Cash and Cash Equivalents 3,000,000 Nonoperating Revenues - State Appropriations 1,300,000
• Capital Appropriations 1,700,000
• C) Cash and Cash Equivalents 3,000,000 Nonoperating Revenues - State Appropriations 1,300,000
• Nonoperating Revenues-Capital Appropriations 1,700,000
• D) Cash and Cash Equivalents 1,700,000 Restricted Cash and Cash Equivalents 1,300,000
• Nonoperating Revenues - State Appropriations 1,700,000
• Capital Appropriations 1,300,000

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