Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the San Jacinto County Courtiouse
Fantastic news! We've Found the answer you've been seeking!
Question:
Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the San Jacinto County Courtiouse Capital Projects. Fund for the year ended June 30, 20X9, given the following information:
Transcribed Image Text:
1. In June 20x8, a $10,000,000 bond referendum is voted for and approved by the citizens of San Jacinto County for the construction of a new courthouse. 2. On July 1, 20X8, a Capital Projects Fund is established for this project with a transfer of $500,000 from the General Fund. 3. The county commissioners approve another $3,000,000 transfer of General Fund monies previously committed for this project. The transfer order calls for $2,000,000 to be sent to the Courthouse Capital Projects Fund to begin construction of the courthouse and $1,000,000 to the Courthouse Debt Service Fund to help satisfy the bond indenture requirements. The finance director completes these transfers on August 1, 20X8. 4. The county signs a contract for $10,000,000 on August 5, 20X8, for construction of the new courthouse. 1. In June 20x8, a $10,000,000 bond referendum is voted for and approved by the citizens of San Jacinto County for the construction of a new courthouse. 2. On July 1, 20X8, a Capital Projects Fund is established for this project with a transfer of $500,000 from the General Fund. 3. The county commissioners approve another $3,000,000 transfer of General Fund monies previously committed for this project. The transfer order calls for $2,000,000 to be sent to the Courthouse Capital Projects Fund to begin construction of the courthouse and $1,000,000 to the Courthouse Debt Service Fund to help satisfy the bond indenture requirements. The finance director completes these transfers on August 1, 20X8. 4. The county signs a contract for $10,000,000 on August 5, 20X8, for construction of the new courthouse.
Expert Answer:
Answer rating: 100% (QA)
Answer San Jacinto County Courthouse Capital Projects Fund Statement of Revenues Expenditures and Ch... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Posted Date:
Students also viewed these accounting questions
-
Draw a graph and an argument about how increases in health due to one medical innovation can lead to improvements in health that are not directly affected by that innovation. Does it matter the...
-
Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 20X8, for the General Fund of Powers Village, given the following information: Fund balance,...
-
Jefferson County established a capital project fund in 2011 to build lowincome housing with the transfer of $100,000 from the General Fund. The following transactions occurred during 2012: 1. April...
-
In order to evaluate lim f(a+h)-f(), it is necessary to evaluate f(a + h). h xa For f(x) = x 3, f(a+h) =
-
"Love Never Dies" is a musical playing in London's West End. The producers are planning a limited run of the musical in Sydney next year. The producers expect that it will cost $1.7 million to mount...
-
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1, 2018, Franza issued a short-term note to a bank for $72,000 cash....
-
Riverwood International Corporation, a leading provider of paperboard, announced the following: Discuss why, and under what conditions, FIFO might enable Riverwood International to more closely match...
-
Scholes Systems supplies a particular type of office chair to large retailers such as Target, Costco, and Office Max. Scholes is concerned about the possible effects of inflation on its operations....
-
Explore the Program Guide to learn more about reverse logistics, waste management, and government regulations
-
Ashton and Melody Webb are a married couple in their mid-20s. Ashton has a good start as an electrical engineer and Melody works as a sales representative. Since their marriage four years ago, Ashton...
-
Belmonte Corporation, with a division located in Germany, must translate its financial statements from euros to U.S. dollars. What is the major accounting issue involved in translation?
-
Identify a recent verbal communication you were involved in, perhaps one that you felt uncomfortable about, and write it down in the space provided (we have given an example). Communication I was...
-
Read Case #12, "Grand Targhee," in the Case Studies section near the end of your textbook. Also visit the website www.grandtarghee.com Analyze the product by answering the questions below. You will...
-
Building off your work from the first three papers (e.g., your ideas, opportunities, assessment of the marketing environments, and STP efforts), you will develop tactics and strategies for support...
-
While you are watching "Smash His Camera," keep these study questions in mind, as they will help with your film challenge assignment,and with midterm and finalsJeopardy: How do we balance the First...
-
In your course textbook, review Table 8-1 Potential Export Problems on page 250. Read the entrepreneurial spotlight on Oscar Farinetti with Eataly, on page 255. Consider that Eataly is now located in...
-
Find u(x,t) of the String with L = and c = 1, the initial velocity = 0 and initial deflection equal to: f(x) = =0 for 01 /4 and 3/4 x x x = 4/5x-1/5 for 7/4x/2 X+ =-5x+3/5/25x5 3/4 5
-
Name some of the various types of financial intermediaries described in the chapter and indicate the primary reason(s) each was created.
-
Partial trial balance data for Mound Corporation, Shadow Company, and the consolidated entity at December 31, 20X7, are as follows: Additional Information 1. Mound Corporation acquired 60 percent...
-
What dollar amounts in the consolidated financial statements will be incorrect if intercompany services are not eliminated?
-
Paper Company acquired 100 percent of Scissor Companys outstanding common stock for $370,000 on January 1, 20X8, when the book value of Scissors net assets was equal to $370,000. Problem 2-25...
-
Although the additive approach traditionally used for coupling Fickian diffusion with convection appears logical and works for calculating total fluxes of \(A\) and \(B\), this is not the only way...
-
You have been invited to give a talk on mass transfer at the local high school. You want to show a live demonstration. Brainstorm at least five different demonstrations that you can develop with very...
-
For binary diffusion with convection, use Eqs. (15-15e), (15-15f), (15-17a), (15-17b), and sum of mole fractions equals 1.0 to show that \(D_{\mathrm{AB}}=D_{\mathrm{BA}}\). Fick's law diffusive flux...
Study smarter with the SolutionInn App