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What amount of bonds should be accounted for in tuston

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Reference no: EM132787566

Tuston Township issued the following bonds during the year ended June 30, Year 1:

Revenue bonds to be repaid from admission fees collected by the Township zoo enterprise fund 500,000

Bonds issued for the garbage collection enterprise fund that will service the debt $700,000

Problem 1: What amount of these bonds should be accounted for in Tuston's government-wide financial statement as a liability resulting from governmental activities?

a. $1,200,000

b. $700,000

c. $500,000

d. $0

Reference no: EM132787566

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