Question
Could somebody please help me??? Prepare in general journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction. 5.
Could somebody please help me???
Prepare in general journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction.
5. Four months prior to year-end, 6 percent special assessment bonds totaling $500,000 were issued to fund a streetlight improvement project in a local subdivision. The bonds are secondarily backed by the village. The first $25,000 installment will be due from property owners six months after the initial bond issuance, but no debt payments are due in the first year.
5a Debt Service Fund Record the issue of special assessment bonds.
5b Record the current and deferred installment receivable from the local subdivision.
5c Governmental Activities Record the issue of special assessment bonds.
5d Record the current and deferred installment receivable from the local subdivision.
5e Record the interest payable on the special assessment debt.
6. Marketable equity securities held by the debt service fund increased in value by $10,000 during the year.
6 Debt Service Fund
Governmental Activities
Appropriations
Assessments ReceivableCurrent
Assessments ReceivableUnavailable
Bonds Payable
Budgetary Fund Balance
Capital Lease Obligations
Cash
Deferred Inflow of Resources
Encumbrances
Estimated Revenues
ExpendituresInterest
ExpendituresPrincipal
ExpensesInterest on Capital Lease
ExpensesInterest on Long-term debt
ExpensesInterest on Special Assessment debt
Fund BalanceAssigned
Fund BalanceRestricted
Fund BalanceUnassigned
General RevenuesInvestment Earnings
General RevenuesTaxes
Interest Payable
Investments
Other Financing SourcesInterfund Transfers In
Other Financing SourcesInterfund Transfers Out
Other Financing SourcesPremium on Bonds Payable
Other Financing SourcesProceeds of Bonds
Other Financing SourcesProceeds of Refunding Bonds
Other Financing SourcesProceeds of Special Assessment Bonds
Other Financing UsesInterfund Transfers Out
Other Financing UsesProceeds of Refunding Bonds
Other Financing UsesRefunded Bonds
Premium on Bonds Payable
Program RevenuesGeneral Government
Revenues
RevenuesChange in Fair Value of Investments
Serial Bonds Payable
Special Assessment Debt with Governmental Commitment
Term Bonds Payable
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