The City of Barnes operates a central motor pool as an internal service fund for the benefit of the city's other funds and departments. In the current year, this fund billed the Parks Department $30,000 for vehicle rentals. If the Parks Department is a governmental fund, which account should the Parks Department use to record these billings? Interfund Transfers In. Interfund Exchanges. Expenditures. Cost of Rentals from Other Funds and Units.

The City of Barnes operates a central motor pool as an internal service fund for the benefit of the city's other funds and departments. In the current year, this fund billed the Parks Department $30,000 for vehicle rentals. If the Parks Department is a governmental fund, which account should the Parks Department use to record these billings? Interfund Transfers In. Interfund Exchanges. Expenditures. Cost of Rentals from Other Funds and Units.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Interfund Transfers In.
Interfund Exchanges.
Expenditures.
Cost of Rentals from Other Funds and Units.

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