ACIS+4124+5124+Revised+P5-9+Solution - 5-9 a.TOWN OF...

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Unformatted text preview: 5-9. a.TOWN OF DEXDebitsCredits1.Recreation Center Construction Fund:CONSTRUCTION EXPENDITURES60,000VOUCHERS PAYABLE60,000Governmental Activities:CONSTRUCTION WORK IN PROGRESS60,000VOUCHERS PAYABLE60,0002.Recreation Center Construction Fund:ENCUMBRANCES2,500,000RESERVE FOR ENCUMBRANCES2,500,000Governmental Activities:NO ENTRY REQUIRED3.Recreation Center Construction Fund:RESERVE FOR ENCUMBRANCES1,600,000CONSTRUCTION EXPENDITURES1,600,000ENCUMBRANCES1,600,000CONTRACTS PAYABLE1,600,000Governmental Activities:CONSTRUCTION WORK IN PROGRESS1,600,000CONTRACTS PAYABLE1,600,0004.Recreation Center Construction Fund:CASH3,000,000OTHER FINANCING SOURCES—PROCEEDS OF BONDS3,000,000Ch. 5, Solutions, 5-9 (Cont’d)DebitsCreditsGovernmental Activities:CASH3,025,000BONDS PAYABLE3,000,000ACCRUED INTEREST PAYABLE25,0005.Recreation Center Construction Fund andGovernmental Activities:CONTRACTS PAYABLE1,600,000CONTRACTS PAYABLE—RETAINED PERCENTAGE64,000VOUCHERS PAYABLE1,536,0006.Recreation Center Construction Fund and...
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This note was uploaded on 03/28/2012 for the course ACIS 4124 taught by Professor Dr.easterwood during the Spring '12 term at Virginia Tech.

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ACIS+4124+5124+Revised+P5-9+Solution - 5-9 a.TOWN OF...

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