Chap018-baker 33

Chap018-baker 33 - FOR ENCUMBRANCES 4,500,000 4 CPF...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-33 P18-15 Capital Projects Fund Entries and Statements a. Journal entries: 1. CPF Cash 5,080,000 Other Financing Sources – Bond Issue 5,000,000 Other Financing Sources – Bond Premium 80,000 Other Financing Uses – Transfer Out to Debt Service Fund 80,000 Cash 80,000 DSF Cash 80,000 Other Financing Sources – Transfer In from Capital Projects Fund 80,000 2. CPF Expenditures 45,000 Vouchers Payable 45,000 Vouchers Payable 45,000 Cash 45,000 (Note: It is not necessary to first establish, and then immediately reverse an encumbrance account.) 3. CPF ENCUMBRANCES 4,500,000 BUDGETARY FUND BALANCE – RESERVED
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Unformatted text preview: FOR ENCUMBRANCES 4,500,000 4. CPF BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 2,000,000 ENCUMBRANCES 2,000,000 Expenditures 2,000,000 Contracts Payable 1,800,000 Contracts Payable – Retained Percentage 200,000 CPF Contracts Payable 1,800,000 Cash 1,800,000 Closing entries for Capital Projects Fund: Other Financing Sources – Bond Issue 5,000,000 Other Financing Sources – Bond Premium 80,000 Expenditures 2,045,000 Other Financing Uses – Transfer Out to Debt Service Fund 80,000 Fund Balance – Unreserved 2,955,000 BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 2,500,000 ENCUMBRANCES 2,500,000...
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