P17-19 LO 17-7, 17-8 Questions on Fund Items (AICPA Adapted] The following information relates to actual results from Central Town's general fund for the year ended December 31, 20XT: Revenues Expenditures and Transfers $630,000 50,000 70,000 190,000 Property tax collections: Current year taxes collected Prior-year taxes due 12/1/X0, collected 2/1/X1 Current year taxes due 12/1/X1, collection expected by 2/15/X2 Other cash receipts General government expenditures: Salaries & wages Other Public safety & welfare expenditures: Salaries & wages Other Capital outlay Transfer out to debt service fund $160,000 100,000 350,000 150,000 140,000 30,000 Chapter 17 Governmental Entities: Introduction and General Fund Accounting 905 Other cash receipts include a county grant of $100,000 for a specified purpose, of which $80,000 was expended; 550,000 in fines; and $40,000 in fees. General Government Expenditures Other includes employer contributions to the pee fair plan and $20,000 in annual capital lease payments for computers over three years, the fall value and present value at lease inception are $50,000. Capital outlay is for police vehicles. Debt service represents annual interest payments due December 15 of each year on $500,000 face value, 6 percent, 20-year term bonds. Capital Projects Fund Central Town's council approved $750,000 for construction of a fire station to be financed by $600,000 in general obligation bonds and a $150,000 state grant. Construction began during 20X1. but the fire station was not completed until April 20x2. During 20X1, the following transactions were recorded: State grant Bond proceeds Expenditures Unpaid invoices at year-end Outstanding encumbrances ot year-end, which do not lapse and are to be noncred the following year $ 150.000 610,000 500,000 30,000 25,000 The unassigned fund balance in the capital projects fund at January 1, 20x1,"was $110,000 Required For questions (a) through (i), determine the December 31, 20x1, year-end amounts to be recog- nized in the particular fund. If the item is not reported in a particular fund but is reported on the governmentwide financial statements, specify the amount that would be reported on the financials, Select your answer from the list of amounts following the questions. An amount may be selected once, more than once, or not at all. a. What amount was recorded for property tax revenues in the general fund? b. What amount was recorded for other revenues in the general fund? c. What amount was reported for capital leases of computers in the governmentwide statement of net position? d. What amount was reported for the new police vehicles in the governmentwide statement of net position? e. What amount was reported for the debt service interest payment in the debt service fund? f. What was the total amount recorded for function expenditures in the general fund? 8. What amount was recorded for revenues in the capital projects fund? h. What amount was reported for construction in progress in the governmentwide statement of net position? i What amount was reported as the Fund Balance-Unassigned at December 31, 20x1, in the capital projects fund? Amounts 220 155 1. $ O 2. $ 30,000 3. $ 50,000 4.$ 55,000 5. $ 60,000 6. $140,000 7. $150,000 8. $170,000 9. $190,000 10. $315.000