number 9!!!
prepare a balance sheet for the park buildinn capital projects fund as of year end
complete everything as instructed!!
This year Riverside began work on an outdoor amphitheater and concession stand at the city's park. It is to be financed by $4,500,000 bond issue and supplemented by a $600,000 General Fund transfer. The following transactions occurred during the current year 1 The General Fund transferred $600,000 to the Park Building Capital Projects Fund 2. A contract was signed with Restin Construction Company for the major part of the project on a bid orsa700.000 3. Preliminary planning and engineering costs of $79,000 were vouchered for the Great Pacific Engineering Company (Thus costad not been encumbered) 4 A payable was recorded for an $23,500 billing from the Water and Sewer enterprise fund for the cost of extending water pipesto the new concession stand 5 An invoice in the amount of $1,500,000 was received from Restin for progress to date on the project. 6. The $4.500.000 bonds were issued at par The amount billed by the contractor (see Transaction 5) less 5 percent retained was paid. 8 Temporary investments were purchased at a cost of $1,900,000. Closing entries were prepared as of year-end Assume that $3,000,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. The remaining fund balance is assigned a. Prepare journal entries to record the preceding information for the Park Building Capital Projects Fund. Of nomy transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet E H 1 Closing entries were prepared as of year-end. Assume that $3,000,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. Netenter debts before credits Debit Credit Transaction 600,000 4,500,000 General Journal Other Financing Sources --Interfund Transfers In Other Financing Sources--Proceeds of Bonds Fund Balance-Restricted Fond Balance - Assigned Construction Expenditures 3,000,000 Prepare a bance sheet for the Park Building Capital Projects Fund as of year-end. RIVERSIDE Park Building Capital Projects Fund Balance Sheet Year End As of Year End Assets $ Total Assets Liabilities and Fund Balances Libilities Total Liabilities Fund Balances As of Ye End Assets $ 0 Total Assets Liabilities and Fund Balances Liabilities 0 Total Liabilities Fund Balances 0 Total Fund Balances Total Liabilities and Fund Balances $ Prepare a statement of revenues, expenditures, and changes in fund balances for the penod RIVERSIDE Park Biking Capital Tiojects Fund Stent of Revenuen, Expenditures, and Changes in Fund Balances For the Year Ended Expenditures Other Financing Sources and Uses Excess of Revenues and Other Sources Over Expenditures Fund Balances. Beginning Fund Balances Ending $ 0 This year Riverside began work on an outdoor amphitheater and concession stand at the city's park. It is to be financed by $4,500,000 bond issue and supplemented by a $600,000 General Fund transfer. The following transactions occurred during the current year 1 The General Fund transferred $600,000 to the Park Building Capital Projects Fund 2. A contract was signed with Restin Construction Company for the major part of the project on a bid orsa700.000 3. Preliminary planning and engineering costs of $79,000 were vouchered for the Great Pacific Engineering Company (Thus costad not been encumbered) 4 A payable was recorded for an $23,500 billing from the Water and Sewer enterprise fund for the cost of extending water pipesto the new concession stand 5 An invoice in the amount of $1,500,000 was received from Restin for progress to date on the project. 6. The $4.500.000 bonds were issued at par The amount billed by the contractor (see Transaction 5) less 5 percent retained was paid. 8 Temporary investments were purchased at a cost of $1,900,000. Closing entries were prepared as of year-end Assume that $3,000,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. The remaining fund balance is assigned a. Prepare journal entries to record the preceding information for the Park Building Capital Projects Fund. Of nomy transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet E H 1 Closing entries were prepared as of year-end. Assume that $3,000,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. Netenter debts before credits Debit Credit Transaction 600,000 4,500,000 General Journal Other Financing Sources --Interfund Transfers In Other Financing Sources--Proceeds of Bonds Fund Balance-Restricted Fond Balance - Assigned Construction Expenditures 3,000,000 Prepare a bance sheet for the Park Building Capital Projects Fund as of year-end. RIVERSIDE Park Building Capital Projects Fund Balance Sheet Year End As of Year End Assets $ Total Assets Liabilities and Fund Balances Libilities Total Liabilities Fund Balances As of Ye End Assets $ 0 Total Assets Liabilities and Fund Balances Liabilities 0 Total Liabilities Fund Balances 0 Total Fund Balances Total Liabilities and Fund Balances $ Prepare a statement of revenues, expenditures, and changes in fund balances for the penod RIVERSIDE Park Biking Capital Tiojects Fund Stent of Revenuen, Expenditures, and Changes in Fund Balances For the Year Ended Expenditures Other Financing Sources and Uses Excess of Revenues and Other Sources Over Expenditures Fund Balances. Beginning Fund Balances Ending $ 0
