Its asking for 3 things. 1) journal entries, 2) preparing adjustments to develop the governmental activities, 3)and lastly calculating the amount invested in capital assets. completing 1-3 requirements using transactions A-E

1- 2- 3- A) B) C) D) E) City of Saint Petersburg operates on a calendar year basis. The city uses a Capital Projects Fund to account for major capital projects and a Debt Service Fund to accumulate resources to pay principal and interest on general obligation debt. The City does not use encumbrance accounting in the Capital Projects Fund. Complete requirements: 1-3 by using transactions A-E below (students must show calcutions fully-no credit for entry only): Prepare journal entries to record these transactions in the Capital Projects Fund, the General Fund, and the Debt Service Fund. Prepare the adjustments needed to develop the governmental activities column of the government-wide financial statements. Calculate the amount that City of Saint Petersburg will report in its December 31, 2013, government-wide statement of net position as Invested in capital assets, net of related debt. Also, assuming all debt service installments are paid when due in 2022, calculate the amount invested in capital assets, net of related debt as of December 31, 2022. Below are transactions: On January 1, 2021, City of Saint Petersburg issues general obligation bonds in the amount of $2,000,000 to build a New ST. Pete Pier. The debt will be paid off in 40 equal semiannual installments of $50,000 over a 20-year period commencing October 1, 2021, with interest of 8 percent per annum paid on the outstanding debt. The city realizes that the ST. Pete Pier will cost more than it originally anticipated. On May 1, the county transfers $40,000 from its General Fund to its Capital Projects Fund to help meet project costs. Construction is completed on July 1, 2021, and the ST. Pete Pier is ready for occupancy. The county pays the contractor a total of $2,040,000 on July 1. The city anticipates that the community center will have a useful life of 40 years. On September 30, 2021, the General Fund transfers an amount to the Debt Service Fund that is sufficient to pay the first debt service installment, which is due October 1. The city pays the debt service due on October 1