I really just need the Journal Entries

AOCT 6328 HW3 Penare funds staranents and government-wide atements The newly created State Recreation District established the following funds, each of which is a separate fiscal and accounting entity 10 A general fund to account for general operating resources that are unassigned Acupial projects fund to account for the proceeds of bonds issued to finance the construction of recreational facilities 3) A debt service tund to account for resources set aside to pay principal and interest (4) An internal service fund to account for the operations of an equipment repair department that will provide services to several departments that are accounted for within the general fund. (5) A trust fund to entail the receipt of resources from contributions made by private individuals or organizations on the bonds A summary of the district's first-year transactions follows (all dollar amounts in millions). at levies taxes of $400, of which it collects $360. It expects to collect the remaining 840 shortly after year-end The taxes are unassigned as to how they may be used. (2) It incurs $225 in general operating expenditures, of which it pays $170. It issues long-term bonds of $450. The bonds must be used to finance the acquisition of recreational facilities. Accordingly, they are recorded in a restricted Fand the capital projects fund. 14) The district acquires $450 of recreational facilities using the resources available in the capital projects fund The bond indenture (agreement) requires that the district periodically commit funds to repay the principal of the debt. The district transfers $50 from the general fund to the fund specially created to account for resources restricted for debt service The District paid $27 interest on the debt. 1 ss was transferred from the general fund to the repair service, which is accounted for in an internal service fund. The center aequires $10 of equipment, paying $5 ath and giving a long-term note of SS in exchange. Internal serviee funds are are BARNted for an a full accrual basis: they focus on all economic resources, Hose they recognize both long term assets and long-term obligations. The nepe nervice bills the district's other departments $16 and collects the full must in cash. The other departments are all accounted for in the general fund There incurs cash operating expenses of $12 and recognizes $1 of A wealthy businessman donated $50 in marketable securities to the District to establish a fund to help financially distressed park maintenance retiree. Per the front agreement only the interest and dividends from the securities can be slistributed to recipients. The recipients will be selected by a committee of board members from the businessman's company, +) The distriet received $5 in interest from the marketable securities. The district paid $4 from the trust to cover the living expense of a group of park retirees who were selected by the committee. Requirement (a) Prepare appropriate journal entries to record the transactions in individual funds. Governmental funds are accounted for on a modified accrual basis: proprietary funds on a full accrual basis. b) Based on the entries, prepare for the governmental funds a balance sheet and a statement of reventies, expenditures, and changes in fund balances. (0) Prepare for the one proprietary fund (the internal service fund), a statement of net position (a balance sheet), and a statement of revenues, expenses, and changes in fund net position (d) Prepare a government-wide statement of net position (balance sheet) and a government-wide statement of activities (statement of revenues and expenses). These statements should consolidate all funds, including the internal service fund, and should be on a full socrual basis. Assume that the district charged depreciation of $40 on recreational facilities (in addition to the amount charged in the internal service fund) Although internal service funds are categorized as proprietary funds, they typically provide most of their services to governmental stivities. Hence, in the government-wide statements, they are generally tutisoidated with the govermental funds rather than with enterprise funds. AOCT 6328 HW3 Penare funds staranents and government-wide atements The newly created State Recreation District established the following funds, each of which is a separate fiscal and accounting entity 10 A general fund to account for general operating resources that are unassigned Acupial projects fund to account for the proceeds of bonds issued to finance the construction of recreational facilities 3) A debt service tund to account for resources set aside to pay principal and interest (4) An internal service fund to account for the operations of an equipment repair department that will provide services to several departments that are accounted for within the general fund. (5) A trust fund to entail the receipt of resources from contributions made by private individuals or organizations on the bonds A summary of the district's first-year transactions follows (all dollar amounts in millions). at levies taxes of $400, of which it collects $360. It expects to collect the remaining 840 shortly after year-end The taxes are unassigned as to how they may be used. (2) It incurs $225 in general operating expenditures, of which it pays $170. It issues long-term bonds of $450. The bonds must be used to finance the acquisition of recreational facilities. Accordingly, they are recorded in a restricted Fand the capital projects fund. 14) The district acquires $450 of recreational facilities using the resources available in the capital projects fund The bond indenture (agreement) requires that the district periodically commit funds to repay the principal of the debt. The district transfers $50 from the general fund to the fund specially created to account for resources restricted for debt service The District paid $27 interest on the debt. 1 ss was transferred from the general fund to the repair service, which is accounted for in an internal service fund. The center aequires $10 of equipment, paying $5 ath and giving a long-term note of SS in exchange. Internal serviee funds are are BARNted for an a full accrual basis: they focus on all economic resources, Hose they recognize both long term assets and long-term obligations. The nepe nervice bills the district's other departments $16 and collects the full must in cash. The other departments are all accounted for in the general fund There incurs cash operating expenses of $12 and recognizes $1 of A wealthy businessman donated $50 in marketable securities to the District to establish a fund to help financially distressed park maintenance retiree. Per the front agreement only the interest and dividends from the securities can be slistributed to recipients. The recipients will be selected by a committee of board members from the businessman's company, +) The distriet received $5 in interest from the marketable securities. The district paid $4 from the trust to cover the living expense of a group of park retirees who were selected by the committee. Requirement (a) Prepare appropriate journal entries to record the transactions in individual funds. Governmental funds are accounted for on a modified accrual basis: proprietary funds on a full accrual basis. b) Based on the entries, prepare for the governmental funds a balance sheet and a statement of reventies, expenditures, and changes in fund balances. (0) Prepare for the one proprietary fund (the internal service fund), a statement of net position (a balance sheet), and a statement of revenues, expenses, and changes in fund net position (d) Prepare a government-wide statement of net position (balance sheet) and a government-wide statement of activities (statement of revenues and expenses). These statements should consolidate all funds, including the internal service fund, and should be on a full socrual basis. Assume that the district charged depreciation of $40 on recreational facilities (in addition to the amount charged in the internal service fund) Although internal service funds are categorized as proprietary funds, they typically provide most of their services to governmental stivities. Hence, in the government-wide statements, they are generally tutisoidated with the govermental funds rather than with enterprise funds