General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund. Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company. Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

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Answer 1

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Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

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Answer 2

Question

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

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Answer 3

Question

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

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Answer 4

Question

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

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Answer 5

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

Answer 6

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

Answer 7

Chapter 17, Problem 17.18.9P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Revenues: Revenues are the income for companies which is generated from its normal business activities. Income from sale of goods and services is commonly known as revenues of the company.

Whether “Revenues” is credited (C), debited (D) or not affected (N) to general fund.

Answer 8

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Answer 9

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Answer 11

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Solution Summary: The author explains that general fund is the primary fund maintained by the companies for recording all inflows and out flows except which are associated with special purpose funds.

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