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Options are : 60000 370000 315000 700000 500000 170000 630000 55000 140000 0 710000 760000 345000 35000 50000 150000 525000 190000 Capital Project Fund: The

image text in transcribedOptions are :

60000

370000

315000

700000

500000

170000

630000

55000

140000

0

710000

760000

345000

35000

50000

150000

525000

190000

Capital Project Fund: The following information relates to actual results from Central Town's general fund for the year ended Central's council approved $750,000 for construction of a fire station, to be financed by $600,000 in general December 31, 20X3: obligation bonds and a S150,000 state grant. Construction began during 20X3, but the fire station was not completed until April 20X4. During 20X3, the following transactions were recorded: Expenditures Revenues State grant S150,000 Property tax collections: Bond proceeds 610,000 Current year taxes collected $630,000 Expenditures 500,000 Prior year taxes due 12/1/X2, collected 2/1/X3 as expected 50,000 Unpaid invoices at year end 30,000 Current year taxes due 12/1/X3, collection expected by 70,000 Outstanding encumbrances at year end, which do not lapse and are to be honored the following 25,000 2/15/X4 year The assigned fund balance at January 1, 20X3, was S110,000. Other cash receipts 190,000 Determine the December 31, 20X3, year-end amount to be recognized in the particular fund or account group. Select your answer from the list of amounts below. An amount may be selected once, more than once, or not General govemment expenditures: at all. Salaries and wages S160,000 What amount was recorded as capital outlay for police vehicles in the government-wide statement of net position? Choose. + Other 100,000 What amount was recorded for debt service expenditures in the govermment-wide Choose. statement of activities? Public safety and welfare expenditures: What amount was recorded as capital outlay for police vehicles in the general Choose. fund? Salaries and wages 350,000 What was the total amount recorded for functional expenditures in the general Choose. 150,000 Other fund? What amount was reported as the assigned fund balance at December 31, 20X3, Choose. in the capital projects fund? Capital outlay 140,000 What amount was recorded for revenues in the capital projects fund? Choose. + What amount was recorded for other revenues in the general fund? Choose. Transfer to debt service fund 30,000 What amount was recorded for property tax revenues in the general fund? Choose. Other cash receipts include a county grant of S100,000 for a specified purpose, of which S80,000 was expended; $50,000 in fines; and $40,000 in fees. General government expenditures-Other includes employer contributions to the pension plan and S20,000 What amount was recorded as construction-in-progress in the government-wide Choose. statement of net position? in annual capital lease payments for computers over three years; the fair value and present value at lease inception is $50,000. Capital outlay is for police vehicles. Debt service represents annual interest payments due December 15th of each year on $500,000 face value, 6%, 20-year term bonds. What amount was recorded for capital leases of computers in the government- wide statement of net position? Choose. Capital Project Fund: The following information relates to actual results from Central Town's general fund for the year ended Central's council approved $750,000 for construction of a fire station, to be financed by $600,000 in general December 31, 20X3: obligation bonds and a S150,000 state grant. Construction began during 20X3, but the fire station was not completed until April 20X4. During 20X3, the following transactions were recorded: Expenditures Revenues State grant S150,000 Property tax collections: Bond proceeds 610,000 Current year taxes collected $630,000 Expenditures 500,000 Prior year taxes due 12/1/X2, collected 2/1/X3 as expected 50,000 Unpaid invoices at year end 30,000 Current year taxes due 12/1/X3, collection expected by 70,000 Outstanding encumbrances at year end, which do not lapse and are to be honored the following 25,000 2/15/X4 year The assigned fund balance at January 1, 20X3, was S110,000. Other cash receipts 190,000 Determine the December 31, 20X3, year-end amount to be recognized in the particular fund or account group. Select your answer from the list of amounts below. An amount may be selected once, more than once, or not General govemment expenditures: at all. Salaries and wages S160,000 What amount was recorded as capital outlay for police vehicles in the government-wide statement of net position? Choose. + Other 100,000 What amount was recorded for debt service expenditures in the govermment-wide Choose. statement of activities? Public safety and welfare expenditures: What amount was recorded as capital outlay for police vehicles in the general Choose. fund? Salaries and wages 350,000 What was the total amount recorded for functional expenditures in the general Choose. 150,000 Other fund? What amount was reported as the assigned fund balance at December 31, 20X3, Choose. in the capital projects fund? Capital outlay 140,000 What amount was recorded for revenues in the capital projects fund? Choose. + What amount was recorded for other revenues in the general fund? Choose. Transfer to debt service fund 30,000 What amount was recorded for property tax revenues in the general fund? Choose. Other cash receipts include a county grant of S100,000 for a specified purpose, of which S80,000 was expended; $50,000 in fines; and $40,000 in fees. General government expenditures-Other includes employer contributions to the pension plan and S20,000 What amount was recorded as construction-in-progress in the government-wide Choose. statement of net position? in annual capital lease payments for computers over three years; the fair value and present value at lease inception is $50,000. Capital outlay is for police vehicles. Debt service represents annual interest payments due December 15th of each year on $500,000 face value, 6%, 20-year term bonds. What amount was recorded for capital leases of computers in the government- wide statement of net position? Choose

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