following long-term obligations : General obligation bonds issued for the water and sewer fund which will service the debt . Revenue bonds to be repaid from admission fees collected from users of the municipal recreation center . These bonds are expected to be paid from enterprise funds , and secured by Todd ' s full faith , credit , and taxing power as further assurance that the obligations will be paid . Todd ' s 2005 expenditures from the general fund include payments for structural alterations to a firehouse and furniture for the mayor ' s office . In Todd ' s general fund balance sheet presentation at December 31 , 2005 , which of the following expenditures should be classified as fixed assets ?
Question 11
On March 2 , 2004 , Finch City issued 10-year general obligation bonds at face amount , with interest payable March 1 and September 1 . The proceeds were to be used to finance the construction of a civic center over the period April 1 , 2004 , to March 31 , 2005 . During the fiscal year ended June 30 , 2004 , no resources had been provided to the debt service fund for the payment of principal and interest . On June 30 , 2004 , Finch ' s debt service fund should include interest payable on the general obligation bonds for
Question 12
A company used the percentage-of-completion method of accounting for a four-year construction contract . Which of the following items would be used to calculate the income recognized in the second year ?
Question 13
During 2004 , Mitchell Corp . started a construction job with a total contract price of $ 600,000 . The job was completed on