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Please help me solve this. Please provide the correct answer. I need it in 24 hrs. Thank you so much in advance. 4. During the
Please help me solve this. Please provide the correct answer. I need it in 24 hrs. Thank you so much in advance.
4. During the current year, a capital projects fund completed a new public safety building started in the prior year. The total cost of the project was $9,695,000; current- year construction costs totaled $715,000, paid in cash. The full cost is attributed to the building because it was constructed on city-owned property. The building came in $6,100 under budget, which is transferred to the General Fund. 4a Capital Project Fund Record the $715,000 cash payment made for construction costs during this year. Construction Expenditures 715,000 Cash 715,000 46 Record the balance $6,100 transferred to the General Fund. 4C General Fund 4d Governmental Activities Record in the governmental activities general journal, the $715,000 cash payment made for construction costs during this year. 4e Record in the governmental activities general journal, the completion of a new public safety building on city-owned property started in the prior year costing $9,695,000Step by Step Solution
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