P17-19 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, 20X1 Expenditures Revenues and Transfers Property tax collections Current year taxes collected Prior-year taxes due 12/1X0, collected 2/1/X1 Current year taxes due 12/1/X1, collection expected by 2/15/X2 $630,000 50,000 70,000 Other cash receipts 90,000 General government expenditures: Public safety &welfare expenditures: Capital outlay Salaries & wages Other $160,000 100,000 Salaries & wages Other 350,000 150,000 140,000 30,000 Transfer out to debt service fund ovemmental Eniaes Intrducion and General Fund Accouning 905 . Other cash receipts include a county grant of $100,000 for a specified purpose, $80,000 was expended; $50,000 in fines; and $40,000 in fees . General Government Expenditures-Other includes employer cont contributions to the pension plan three years; the fair value and and $20,000 in annual capital lease payments for compaters over present value at lease inception are $50,000. Capital outlay is for police vehicles. . Debt service face value, 6 percent, 20-year term bonds. represents annual interest payments due December 15 of each year on $500,000 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 20XI, but the fire station was not compleled until April 20X2. During 20X1, the following transactions were recorded State grant Bond proceeds Expenditures Unpaid invoices at year-end Outstanding encumbrances at year-end, $150,000 610,000 500,000 30,000 which do not lapse and are to be honored the following year 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 assets? d. What amount was reported for the new police vehicles in the governmentwide statement of net assets? e. What amount f. What was the total amount recorded for function expenditures in the general fund? g. What amount was recorded for revenues in the capital projects fund? h What amount was reported for construction in progress in the was reporte ed for the debt service interest payment in the debt service fund? gopemmentwide statement of net assets? ber 31, 20X1, in the capital projects fund? Amounts 0 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 (continued) Amounts 11. $345,000 12. $370,000 13. $500,000 14. $525,000 15. $630,000 16. $700,000 17. $710,000 18. $760,000