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Exam (elaborations)

CMFO EXAM - GRANT FUND JOURNAL ENTRIES Exam Questions and Answers Graded A+

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CMFO EXAM - GRANT FUND JOURNAL ENTRIES Exam Questions and Answers Graded A+

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CMFO EXAM - GRANT FUND
JOURNAL ENTRIES Exam Questions
and Answers Graded A+

To realize grant revenue in current fund - Correct answer-Dr. Due to/from Grant

Fund

Cr. Revenue - Anticipated grant revenue

- to realize grant revenue in current fund and transfer to grant fund

To charge off grant appropriation - Correct answer-Dr. Appropriation - Grant

Cr. Due to/from Grant Fund

- to charge off appropriation in current fund and transfer to grant fund

To set up grant receivable - Correct answer-Dr. Grant receivable

Cr. Due to/from current fund

- to setup receivable for grant transferred from current fund

To set up appropriated reserve - Correct answer-Dr. Due to/from current fund


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