Business, 29.05.2020 16:59 joelpimentel
Linden County operates a solid waste landfill that is accounted for in an enterprise fund. The county calculated this yearâ s portion of the total closure and postclosure costs associated with the landfill to be $300,000.
The entry(ies) to record this cost should be:
a) Debit landfill expense $300,000; Credit liability for landfill costs $300,000.
b) Debit landfill expense $300,000; Credit liability for landfill costs $300,000 AND include an addition of $300,000 on the schedule of changes in long-term obligations.
c) Show only an addition of $300,000 on the schedule of changes in long-term obligations.
d) No entry in the fund; No addition on the schedule of changes in long-term obligations.
Answers: 3
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Linden County operates a solid waste landfill that is accounted for in an enterprise fund. The count...
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