8. Cash of $200,000 is received from a citizen, to be held in trust and used for scholarships for local citizens to attend local universities. All amounts received are spendable.

Fund financial statements:

8.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

8.B

Government-wide statements:

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

Journal Entries

Description Debit Credit

Answer

Answer

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