Exercise_5_13_solution.pdf - JOURNAL ENTRIES State...

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JOURNAL ENTRIESState GovernmentCapital Project Fund Journal EntriesDecember 31, 2017Account TitleDebits Credits 1Encumbrances2,100,000 Budgetary Fund Balance - Reserve for encumbrances2,100,000 2Cash23,600,000 Taxes receivable2,550,000 Fuel tax revenues21,050,000 Taxes receivable2,900,000 Fuel tax revenues2,900,000 3Encumbrances23,650,000 Budgetary Fund Balance - Reserve for encumbrances23,650,000 4Expenditures: Capital Outlay24,005,000 Contracts payable24,005,000 Budgetary Fund Balance - Reserve for encumbrances24,005,000 Encumbrances24,005,000 5Contracts payable23,375,000 Cash23,375,000 State GovernmentDebt Service Fund Journal EntriesDecember 31, 2017Account TitleDebits Credits 6Cash4,800,000 Other financing sources - transfers in4,800,000 7Expenditure - bond interest2,985,000 Expenditure - bond principal1,850,000 Cash4,835,000 8Cash20,000,000 Other financing sources - bond refunding20,000,000 Other financing uses - bond refunding20,000,000 Cash20,000,000
STATE GOVERNMENTGeneral ledger CAPITAL PROJECTS FUND GENERAL LEDGER CASH TAXES RECEIVABLE CONTRACTS PAYABLE FUND BALANCE bb8,700,000 bb2,550,000 1,875,000 bb9,375,000 bb2 23,600,000 2,550,000 2 24,005,000 4 23,375,000 5 2 2,900,000 5 23,375,000 2,900,000 2,505,000 9,375,000 8,925,000 BUDGETARY FUND BALANCE - FUEL TAX CAPITAL

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