HW2 Solutions Worksheet

HW2 Solutions Worksheet - Problem# Page# 42 16061 Question#...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
file:////home/vdimitrov/27267/a7c012895f3e2521af3e2b4f5a2ae46283814f24.xls/4-2 Multiple Choice 08/02/2011  Problem#   Page #   Question #  4-2  160-61   1   a   2   c   3   d   4   b   5   d   6   a   7   c   8   c   9   b   10   b   Letter  Answer 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
file:////home/vdimitrov/27267/a7c012895f3e2521af3e2b4f5a2ae46283814f24.xls/5-10 Journal Entries 08/02/2011  5-10 Page   a) Journal Entries   Specific Ledger/Fund Description   Debits   Credits   Street Improvement Capital Projects Fund  1.) Issued 6% bond anticipation notes Cash 100,000 Other financing sources-     proceeds of bond anticipation notes 100,000 Cash Notes Payable 2.) Federal grant for current year 750,000 Revenues 750,000 Revenues 3.) Construction contract awarded Encumbrances 2,700,000 Reserve for encumbrances 2,700,000 4.) Supplies from an Internal Service Fund for the project Construction Expenditures 60,000   Due to other funds 60,000 Internal Service Fund Due from other funds Revenue 5.) Engineering invoice not previously encumbered Construction Expenditures 69,000      Cash 69,000 Construction in Progress (asset account) Cash 6.) Utility costs vouchered Construction Expenditures 18,500   Vouchers Payable 18,500 Construction in Progress (asset account) Vouchers Payable 7.) Progress billing was approved for payment Reserve for Encumbrances 1,000,000 Construction Expenditures 1,000,000  Encumbrances 1,000,000 Vouchers Payable 1,000,000 Construction in Progress (asset account) Vouchers Payable 8.) The bonds were issued and the current portion of the grant received Cash  (750,000+2,500,000) 3,250,000  General Ledger Governmental  Funds  Due from Federal Government  (4,000,000-2,500,000)/2 Due from Federal Government  (4,000,000-2,500,000)/2
Background image of page 2
file:////home/vdimitrov/27267/a7c012895f3e2521af3e2b4f5a2ae46283814f24.xls/5-10
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/01/2011 for the course ACCT 434 taught by Professor Mcclellan during the Spring '11 term at National.

Page1 / 10

HW2 Solutions Worksheet - Problem# Page# 42 16061 Question#...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online