homework2 - 5-5 a Capital lease because the lease term(30...

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Unformatted text preview: 5-5 a. Capital lease because the lease term (30 years) is equal to 75% of the economic life of the building (40 years). b. General Fund: Expenditures 12367023 OFS—Capital Lease Agreements 12367023 GA: Building 12367023 Capital Lease Obligation 12367023 5-7 Fund Cash OFS Cash 650000 650000 6000000 6000000 Cash GA 6000000 6000000 Notes Payable Cash 650000 Revenue OFU Cash Encumbrance 250000 Revenue None 650000 250000 6800000 6800000 Land 6890000 Building Equipment Cash 200000 6295000 395000 6890000 None Reserve for Encumbrance Expenditure Cash 6890000 Cash 490000 490000 None Due to DSF ...
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This note was uploaded on 11/25/2010 for the course ACCY 480 taught by Professor Staff during the Fall '08 term at Northern Illinois University.

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homework2 - 5-5 a Capital lease because the lease term(30...

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