Capital Assets

A Beginning Balance was $$75,000,000$ in capital assets with $$40,000,000$ in accumulated depreciation

B The City finished a new Admin building with a final cost of $$8,500,000$ on June $30,2022.$ Construction in progress at the beginning of the fiscal year was $$6,000,000.$

D The City sold a bulldozer at auction on March $1,2022$ for $$50,000.$ It had an initial cost of $$150,000$ and was purchased on February $1,2018.$

E The City also purchased $6$ new work trucks for $$75,000$ each for the Code Enforcement Department on April $1.$

Taxes

F Adjust for the $$25,000$ of property takes that was deferred in $2021$ and recognized as revenue in the $2022$ fund$-$basis statements.

G Make adjustments for additional revenue accrual. The only adjustment is for property takes to eliminate the current year deferral of property taxes in the amount of $$35,000.$

H CITY REFINANCED THEIR OUTSTANDING BONDS OF $$26,600,000$ ON THE FIRST DAY OF THE CURRENT YEAR. This was the only outstanding debt at the beginning of the year and the balance of the year was $$24,000,000.$ The bond is a $15$ year bond payments are made each february $15$ & august $15.$ There was a bond premium of $$100,000.$ The interest rate is at $5\mathrm{.}374\%$

J Assume the City adopted a policy in $2022$ of allowing employees to accumulate compensated absences$.$ Make an adjustment accruing the expense of $$65,000$ Charge compensated absences expense.

Internal Service Fund

$M$ Reduce governmental fund expenses $($General Government Expenses$]$ by the net operating profit of internal service funds.

$N$ Eliminate transfers that are between departments reported within governmental activities.