Continuous Problem Ch 6 - Capital Projects Fund Journal...

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Capital Projects Fund Journal Entries Leisure City Chapter 6 Continuous Problem  Dr  1 Estimated revenues-federal construction grant  25,000,000.00  Estimated other financing sources-bond issue  25,000,000.00  Estimated Revenues-investment revenues  3,000,000.00  Appropriations Budgetary Fund Balance 2 Cash  26,000,000.00  OFS-long term debt OFS-Bond issue premium Transfer out-DSF  1,000,000.00  Cash 3 Cash  25,000,000.00  Deferred Revenue-grants 4 Investments  20,000,000.00  Cash 5 Encumberances-capital project  50,000,000.00  Budgetary Fund Balance Reserved for Encumb 8 Budgetary Fund Balance reserved for encumberances  3,000,000.00  Encumberances-capital Project Expenditure-construction costs  3,000,000.00  Retained Percentage on const. contract Construction Contracts Payable 9 Cash  5,250,000.00  Investments Revenue-Interest 10 Construction Contracts Payable  2,850,000.00  Cash 13 Budgetary Fund Balance reserved for encumberances  5,000,000.00  Encumberances-capital Project Expenditure-construction costs  5,000,000.00  Retained Percentage on const. contract
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Construction Contracts Payable 14 Interest Receivable  580,000.00  Revenue-Investment 15 Deferred Revenue-grants  4,000,000.00  Revenue-construction grants Closing Entries  Appropriations  50,000,000.00  Budgetary Fund Balance  3,000,000.00                      Estimated revenues-federal construction grant                     Estimated other financing sources-bond issue                     Estimated revenues-investment revenues Revenues-construction grants  4,000,000.00  Revenue-investments  8,300,000.00 
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This note was uploaded on 10/27/2008 for the course ACCT 430 taught by Professor D during the Spring '08 term at Black Hills State University.

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Continuous Problem Ch 6 - Capital Projects Fund Journal...

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