When Making the Worksheet Entry to Eliminate Transfers Which of the Following

question 70

Multiple Choice

When making the worksheet entry to eliminate transfers which of the following would be acceptable considering transfers in of $123,000 and transfers out of $254,000?
A. $\begin{array}{lccc} \text {Transfer-in from other funds}&&123,000&\\ \text {Net Assets}&131,000&&\\ \text {Transfer out to other funds}&&&254,000\\\end{array}$

B. $\begin{array}{lccc} \text {Transfer-in from other funds}&&123,000&\\ \text {Transfer out to other funds}&&&123,000\\\end{array}$

C. $\begin{array}{lccc} \text {Transfer-in from other funds}&&254,000&\\ \text {Transfer out to other funds}&&254,000\\\end{array}$

D. $\begin{array}{lccc} \text {Transfer-in from other funds}&&254,000&\\ \text {Transfer out to other funds}&&&254,000\\\end{array}$

• A) Choice A
• B) Choice B
• C) Choice C
• D) Choice D