General capital assets are accounted for differently in fund governmental-wide financial statements. A city engaged in the following transactions during a year.

a. it acquired computer equipment at a cost of $40,000.

b. it completed construction of a new jail, incurring $245,000 in new costs. in the previous year, th city had incurred $2.5 millin construction costs. the project was accounted for in a capital project fund.

c. it sold for $16,000 land that it had acquired three years earlier for $28,000.

d. it traded in a four year old sanitation department vehicle for a new model. The old vehicle had initially cost $27,000, it carrying value at the time of trade was $17,000 and it market value was $13,000. The city paid an additional $39,000 cash for the new model. The fair value of the new model was $52,000.

1. prepare journal entries to reflet the transactions in an appropriate governmental fund (e.g., a gneral fund, or a capital projects fund).

2. prepare journal entries to reflect the transactions in the city's government-wide statements.