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Chap018-baker 32

Chap018-baker 32 - Expenditures – Serial Bonds Paid...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-32 P18-14 (continued) Closing entries: APPROPRIATIONS CONTROL 348,000 ESTIMATED REVENUES CONTROL 310,000 BUDGETARY FUND BALANCE – UNRESERVED 38,000 BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 2,100 ENCUMBRANCES 2,100 Fund Balance – Unreserved 2,100 Fund Balance – Reserved for Encumbrances 2,100 Revenue 306,000 Fund Balance – Unreserved 31,200 Other Expenditures 271,200 Expenditures – Building Addition Constructed 50,000
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Unformatted text preview: Expenditures – Serial Bonds Paid 16,000 Fund Balance – Reserved for Encumbrances – 20X0 8,800 Expenditures – 20X0 8,800 b. Adjusting Journal Entries: Capital Projects Fund: 5. Due from General Fund 100,000 Other Financing Sources – Bond Issue 100,000 Record receivable due from general fund for proceeds of sale of bonds. Water Utility Fund: 6. Due from General Fund 1,000 Revenue – Miscellaneous 1,000 Record receivable from general fund for cash obtained from sale of scrap....
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