Chap018-baker 17

Chap018-baker 17 - Cash $15,300 Property Tax Receivables...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-17 E18-7 (continued) 4. Cash 5,500 Other Financing Sources – Transfer In From Capital Projects Fund 5,500 Record transfer of unspent funds in capital projects fund to debt service fund. 5. APPROPRIATIONS CONTROL 34,000 BUDGETARY FUND BALANCE 6,000 ESTIMATED REVENUES CONTROL 35,000 ESTIMATED OTHER FINANCING SOURCES – TRANSFER IN 5,000 Close budgetary accounts. Revenue – Property Tax 39,000 Other Financing Sources – Transfer in from Capital Projects Fund ($6,000 + $5,500) 11,500 Fund Balance – Reserved for Debt Service 18,800 Expenditures 31,700 Close nominal accounts. . b. City of Waterman Debt Service Fund Balance Sheet December 31, 20X2 Assets:
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Unformatted text preview: Cash $15,300 Property Tax Receivables (net) 4,000 Total Assets $19,300 Liabilities: Vouchers Payable $ 500 Fund Balance: Reserved for Debt Service 18,800 Total Liabilities and Fund Balance $19,300 c. City of Waterman Debt Service Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For Fiscal Year Ended December 31, 20X2 Revenue: Property Taxes $39,000 Expenditures: Principal Retirement $15,000 Interest 15,000 Miscellaneous 1,700 Total Expenditures 31,700 Excess of Revenue over Expenditures $ 7,300 Other Financing Sources (Uses): Transfers In From Capital Projects Fund 11,500 Net Change in Fund Balance $18,800 Fund Balance, January 1, 20X2-0-Fund Balance, December 31, 20X2 $18,800...
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.

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