ACCT 424 Week 4 Exercises
Exercise 1: Which fund and / or account group would account for the following activities?
Exercise 2: For the following accounts in the Village of Bloomingburg’s General Fund, identify the normal balance expected for each account during the fiscal year before closing entries. Select from debit, credit or either.
Exercise 3: Select the name of the one fund or account group in which each of the following items is most likely to be recorded.
Exercise 4: Select “Yes” in the appropriate column to indicate in which of the following funds and accounts groups the given accounts would commonly be found, and “No” if it would not be:
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