c. The municipal waterworks constructed a new pumping plant at a cost of $120,000. The plant was financed from the water utility revenues. The water utility is accounted for in aproprietary fund. d....

c. The municipal waterworks constructed a new pumping plant at a cost of $120,000. The plant was financed from the water utility revenues. The water utility is accounted for in aproprietary fund.

d. The fire department traded in an old fire engine and $105,000 cash for a new model. The old equipment had originally cost $65,000, and $15,000 was allowed on the trade-in.