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Ch 5's problems solutions--post

Ch 5's problems solutions--post - 5-4(A SPENCER COUNTY...

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5-4 (A) SPENCER COUNTY COURTHOUSE ANNEX CAPITAL PROJECTS FUND GENERAL JOURNAL CLOSING ENTRY D EBITS C REDITS O THER F INANCING S OURCES -P ROCEEDS OF B ONDS O THER F INANCING S OURCES -P REMIUM ON B ONDS I NTERGOVERNMENTAL REVENUE C APITAL E XPENDITURES E NCUMBRANCES O THER F INANCING U SES -T RANSFERS O UT U NRESERVED FUND BALANCE 2,000,000 35,000 450,000 1,285,000 750,000 35,000 415,000 5-4 (b) SPENCER COUNTY COURTHOUSE ANNEX CAPITAL PROJECTS FUND BALANCE SHEET AS OF DECEMBER 31, 2009 A SSETS C ASH $ 1,215,000 D UE FROM STATE GOVERNMENT 450,000 T OTAL A SSETS $1,665,000 L IABILITIES AND F UND E QUITY L IABILITIES : C ONTRACT P AYABLE $ 500,000 F UND B ALANCE : R ESERVE FOR E NCUMBRANCES $ 750,000 U NRESERVED 415,000 TOTAL F UND E QUITY 1,165,000 T OTAL L IABILITIES AND F UND E QUITY $1,665,000
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5-4 (C) SPENCER COUNTY COURTHOUSE ANNEX CAPITAL PROJECTS FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 2009 R EVENUES : I NTERGOVERNMENTAL G RANT $ 450,000 E XPENDITURES : C APITAL O UTLAY 1,285,000 E XCESS (D EFICIENCY ) OF R EVENUES O VER E XPENDITURES O THER F INANCING S OURCES (U SES ) P ROCEEDS OF B ONDS B OND P REMIUM T RANSFERS O UT (835,000) 2,000,000 35,000 (35,000) T OTAL O THER F INANCING S OURCES (U SES ) 2,000,000 N ET C HANGE IN F UND B ALANCE 1,165,000 F UND B ALANCE , J AN . 1, 2009 --0-- F UND B ALANCE , D EC . 31, 2009 $ 1,165,000 5-5 (A) EASTVILLE CITY LIBRARY PERMANENT FUND GENERAL JOURNAL CLOSING ENTRY D EBITS C REDITS R EVENUES : A DDITIONS TO PERMANENT ENDOWMENTS R EVENUES : I NVESTMENT I NCOME R EVENUES : I NCREASE IN FAIR VALUE OF I NVESTMENTS E XPENDITURES SUBSCRIPTIONS FUND BALANCE RESERVED FOR OTHER PURPOSES 500,000 49,000 9,000 47,000 511,000
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5-5 (b) EASTVILLE CITY LIBRARY PERMANENT FUND BALANCE SHEET AS OF DECEMBER 31, 2009 A SSETS C ASH $ 9,500 I
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