The Town of Conway Opened a Solid Waste Landfill in 1995

question 20

Short Answer

The Town of Conway opened a solid waste landfill in 1995 that is filled to capacity in the current year.The city initially anticipated closure costs of $2 million.These costs were not expected to be incurred until the landfill was closed.What is the final journal entry to record these costs assuming the estimated $2 million closure costs were properly recorded and the landfill is accounted for in an enterprise fund?
A) $\begin{array}{lcc} & \text { Expense -Landfill Closure } & 2,000,000 & \\ & \text { Landfill Closure Liability } & & 2,000,000 \\\end{array}$


B) $\begin{array}{lcc}& \text { Landfill Closure Liability } & 2,000,000 & \\& \text { Expense - Landfill Closure } & & 2,000,000 \\\end{array}$


C) $\begin{array}{lcc} & \text { Expense -Landfill Closure } & 2,000,000 & \\ & \text { Cash } & & 2,000,000 \\\end{array}$


D) $\begin{array}{lcc}& \text { Landfill Closure Liability } & 2,000,000 & \\ & \text { Cash } & & 2,000,000 \\\end{array}$


E) $\begin{array}{lcc} & \text { Expenditure- Landfill Closure } & 2,000,000 & \\ & \text { Cash } & & 2,000,000 \\\end{array}$

• A)\(\begin{array}{lcc} & \text { Expense -Landfill Closure } & 2,000,000 & \\
• & \text { Landfill Closure Liability } & & 2,000,000 \\\end{array}\)
• B) \(\begin{array}{lcc}& \text { Landfill Closure Liability } & 2,000,000 & \\
• & \text { Expense - Landfill Closure } & & 2,000,000 \\\end{array}\)
• C) \(\begin{array}{lcc} & \text { Expense -Landfill Closure } & 2,000,000 & \\
• & \text { Cash } & & 2,000,000 \\\end{array}\)
• D) \(\begin{array}{lcc}& \text { Landfill Closure Liability } & 2,000,000 & \\
• & \text { Cash } & & 2,000,000 \\\end{array}\)
• E) \(\begin{array}{lcc} & \text { Expenditure- Landfill Closure } & 2,000,000 & \\
• & \text { Cash } & & 2,000,000 \\
• \end{array}\)

Comprehend the characteristics of a useful theory.

Grasp probability principles and their application to real life contexts.

Identify the importance of replication and other research methods in psychology.

Recognize the role of control in experiments.

---

Definitions:

Major Organic Product

The primary organic compound formed in the highest quantity in a chemical reaction involving organic reactants.

Chlorination

The addition or substitution of chlorine in a molecule, commonly used in disinfection and organic synthesis processes.

Reactivity

A term describing how readily a substance undergoes chemical change, influenced by factors like chemical structure, surrounding environment, and energy barriers.

Electrophilic Aromatic Substitution

A chemical reaction in which an atom, typically a halogen, is substituted for a hydrogen atom on an aromatic ring, facilitated by an electrophile.