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need help with this Just journal entry for government funds accounts used: No Journal Entry Required Accumulated Depreciation Appropriations Budgetary Fund Balance Buildings Capital Lease

need help with this

Just journal entry for government funds

accounts used:

  • No Journal Entry Required
  • Accumulated Depreciation
  • Appropriations
  • Budgetary Fund Balance
  • Buildings
  • Capital Lease Obligations Payable
  • Cash
  • Construction Expenditures
  • Construction Work in Progress
  • Encumbrances
  • Encumbrances Outstanding
  • Estimated Revenues
  • ExpendituresGeneral Government
  • ExpensesGeneral Government
  • ExpensesPublic Safety
  • Fund BalanceAssigned
  • Fund BalanceUnassigned
  • Gain on Sale of Machinery
  • Interfund Transfers Out
  • Land
  • Loss on Sale of Machinery
  • Machinery and Equipment
  • Other Financing SourcesCapital Lease Agreements
  • Other Financing SourcesProceeds of Capital Asset Sale
  • Other Financing Uses
  • Program RevenuesCulture and RecreationCapital Grants and Contributions
  • Program RevenuesPublic SafetyCapital Grants and Contributions
  • Revenues
  • Vouchers Payable

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b. Provide journal entries the city should make for both the capital projects fund and governmental activities at the government-wide level to record the lease at the date of inception.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund General Journal Debit Credit 1. Record the lease at the date of inception. Capital Projects Fund Governmental Activities c. Which financial statement(s) prepared at the end of the first year would show both the asset and the liability related to this capital lease? Government wide statements of comprehensive income Government wide statements of net position Government wide statements of profit or loss Government wide statements of revenue and expenditure

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