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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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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