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(TCO E) Please record the following transactions in the Capital Projects Fund in the general journal for the following transactions. a. McKinley County issued $5,000,000, 5% bonds with interest payable on a semiannual basis on July 1 and January 1. The bonds sold for 101 on July 30, 2012. Proceeds from the bond issue were to be used for construction of the new sheriff station with all interest and premiums received to be used to service the debt issue. b. A state grant of $300,000 was received to help finance the construction of the sheriff station. c. The General Fund transferred $400,000 for use in the construction of the new sheriff station. d. A federal grant of $750,000 was received to help finance the construction of the new sheriff station. e. A construction contract was awarded to the Spring Construction Company in the amount of $5,900,000. f. The new sheriff station was completed on May 1, 2013, three months ahead of schedule. The construction expenditures amounted to $6,150,000. When the project was completed, the cost of the sheriff station was allocated to the following, $480,000 for land, $5,420,000 for the building, and the remainder to equipment. g. The temporary accounts of the capital projects were closed to Fund Balance-Restricted. The amounts are restricted due to the bond issue that is related to the construction of the sheriff station. The capital projects fund will be closed by transferring remaining funds to the debt service fund for repayment.
a borrower has two alternatives for a loan 1 issue a 180000 45-day 10 note or 2 issue a 180000 45-day note that the
Capstone Research Project
The following information is available for the first month of operations of Korv Inc., a manufacturer of art and craft items:
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The program itself, which is accounted for in a special revenue fund, is funded by both direct contributions and the income from the permanent fund. At the start of the year, the special revenue fund had assets (all invested) of $26,000.
You just heard a news story about a mad cow disease in a neighboring country, and you believe that feeder cattle prices will rise dramatically in the next few months as buyers of cattle shift to US suppliers.
during the year inez had following transactions involving capital gains gain on the sale of unimproved land purchased 2
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