1 General obligation bonds, due in 20 years, are issued for $10,000,000 in cash The bonds are used to finance the building of a new community center The total cost of the community center is $12,000,000 Fund financial statements 1 A Which fund is the transaction recorded in (Capital projects fund custodial fund debt service fund general fund pension trust fund special revenue fund NA) Journal Entries Description Debit Credit Answer Answer To record Issuance of bonds Description Debit Credit Answer Answer To record costs incurred to build the community center 1 B Government wide statements Item(s) is are reported as (business type government type NA) Journal Entries Description Debit Credit Answer Answer To record issuance of bonds Description Debit Credit Answer Answer To record costs incurred to build the community center Description Debit Credit Answer Answer To recategorize net position Accounts are listed below I tend to get answers not including these accounts so I am reposting question Additions, bond proceeds, bonds payable, capital assets net, cash, deductions, expenditures capital outlay, expenditures interest, gain on sale of capital assets, interest expense, investments, liabilty to town for property taxes, loss on sale of capital assets, net investment in capital assets, proceeds from sale of capital assets, revenues, restricted net position, unrealized gains on investments, unrestricted net postion, no entry

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1. General obligation bonds, due in 20 years, are issued for $10,000,000 in cash. The bonds are used to finance the building of a new

1. General obligation bonds, due in 20 years, are issued for $10,000,000 in cash. The bonds are used to finance the building of a new community center. The total cost of the community center is $12,000,000.

Fund financial statements:

1.A Which fund is the transaction recorded in? (Capital projects fund/custodial fund/debt service fund/general fund/pension trust fund/ special revenue fund/NA)

Journal Entries

Description Debit Credit

Answer

To record Issuance of bonds

Description Debit Credit

Answer

To record costs incurred to build the community center

1.B

Government-wide statements:

Item(s) is/are reported as (business type/government type/NA)

Journal Entries

Description Debit Credit

Answer

To record issuance of bonds.

Description Debit Credit

Answer

To record costs incurred to build the community center.

Description Debit Credit

Answer

To recategorize net position.

Accounts are listed below I tend to get answers not including these accounts so I am reposting question:

Additions, bond proceeds, bonds payable, capital assets net, cash, deductions, expenditures - capital outlay, expenditures: interest, gain on sale of capital assets, interest expense, investments, liabilty to town for property taxes, loss on sale of capital assets, net investment in capital assets, proceeds from sale of capital assets, revenues, restricted net position, unrealized gains on investments, unrestricted net postion, no entry.