18-6 - 282,000 Vouchers Payable 7,400 Cash 289,400 c. Close...

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E18-6 Capital Projects Fund Entries a. Entries to record receipt of grant and bond sale: Cash 100,000 Revenue – County Grant 100,000 Cash 205,000 Other Financing Source – Bond Issue 200,000 Other Financing Source – Bond Premium 5,000 Other Financing Use – Transfer Out to Debt Service Fund 5,000 Cash 5,000 Transfer premium to debt service fund. b. Entries to record construction: March 1, 20X1 ENCUMBRANCES 275,000 BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 275,000 November 10, 20X1 BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 275,000 ENCUMBRANCES 275,000 Expenditures 282,000 Contract Payable 282,000 Expenditures 7,400 Vouchers Payable 7,400 December 15, 20X1 Contract Payable
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Unformatted text preview: 282,000 Vouchers Payable 7,400 Cash 289,400 c. Close nominal accounts: Revenue – County Grant 100,000 Other Financing Source – Bond Issue 200,000 Other Financing Source – Bond Premium 5,000 Fund Balance – Unreserved 305,000 Fund Balance – Unreserved 294,400 Expenditures 289,400 Other Financing Use – Transfer Out to Debt Service Fund 5,000 E18-6 (continued) d. Transfer of ending balance and close transfer account: Other Financing Use – Transfer Out to Debt Service Fund 10,600 Cash 10,600 Fund Balance – Unreserved 10,600 Other Financing Use – Transfer Out to Debt Service Fund 10,600...
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This note was uploaded on 04/18/2008 for the course ACCT cost taught by Professor Staff during the Spring '08 term at Oklahoma State.

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18-6 - 282,000 Vouchers Payable 7,400 Cash 289,400 c. Close...

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