Exercise_5_14_solution - State Government Capital Project...

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State Government Capital Project Fund Journal Entries December 31, 2015 Account Title Debits Credits 1 Encumbrances 1,700,000 Budgetary Fund Balance - Reserve for encumbrances 1,700,000 2 Cash 25,412,000 Taxes receivable 2,550,000 Fuel tax revenues 22,862,000 Taxes receivable 3,105,000 Fuel tax revenues 3,105,000 3 Encumbrances 29,000,000 Budgetary Fund Balance - Reserve for encumbrances 29,000,000 4 Capital expenditures 28,900,000 Contracts payable 28,900,000 Budgetary Fund Balance - Reserve for encumbrances 28,900,000 Encumbrances 28,900,000 5 Contracts payable 28,818,000 Cash 28,818,000 State Government Debt Service Fund Journal Entries December 31, 2015 Account Title Debits Credits 6 Cash 5,300,000 Other financing sources - transfers in 5,300,000 7 Expenditure - bond interest 3,400,000 Expenditure - bond principal 1,800,000 Cash 5,200,000 8 Cash 25,000,000 Other financing sources - bond refunding 25,000,000 Other financing uses - bond refunding 25,000,000 Cash 25,000,000
CAPITAL PROJECTS FUND GENERAL LEDGER CASH TAXES RECEIVABLE CONTRACTS PAYABLE FUND BALANCE bb 8,700,000 bb 2,550,000 1,875,000 bb 9,375,000 bb 2 25,412,000 2,550,000 2 28,900,000 4 28,818,000 5 2 3,105,000 5 28,818,000 3,105,000 1,957,000 9,375,000 5,294,000 BUDGETARY FUND BALANCE - FUEL TAX CAPITAL RESERVE FOR ENCUMBRANCES ENCUMBRANCES REVENUES

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