Question
Capital Projects Fund 20X5 proceeds from bonds issued at 95$2,850,000 20X5 expenditures (construction of new fire station, started in 20X5, to be completed in 20X6)
Capital Projects Fund
20X5 proceeds from bonds issued at 95$2,850,000
20X5 expenditures (construction of new fire station, started in 20X5,
to be completed in 20X6) $1,600,000
(1) In the capital projects fund, what amount would be reported as Restricted Fund Balance at December 31, 20X5?
(2) What amount would be reported as a capital asset in the county's government-wide statement of net position at December 31, 20X5 relative to the construction of the new fire station?
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
1st Canadian Edition
1118757149, 978-1118757147
