Question 4 of 10 0.97/5 = View Policies Show Attempt History Current Attempt in Progress The City of Minden entered into the following transactions during the year 2024, 1. & bond issue was authorized by vote to provide funds for the construction of 2 new municipal building, which it was estimated would cost $980,000. The bonds are to be paid in 10 equal installments from a Debt Service Fund, and payments are due March 1 of each vear. Any premium on the bond issue, as well as any balance of the Capital Projects Fund, is to be transferred directly to the Debt Service Fund. 2. An advance of 581,000 was received from the General Fund to underwrite a deposit on the land contract of $120,000. The deposit was made. 3 Bonds of $872,000 were sold for cash at 102. It was decided not to sell all the bonds because the cost of the land was less than expected. 4, Caontracts amounting to $744,000 were let to Winds and Company, the low bidder, for construction of the municipal building. 5. The temporary advance from the General Fund was repaid and the balance on the land contract was paid. &, On the basis of the architect's certificate, contract billings were approved for $610,000 for the work completad to date. 7. Contract billings paid in cash by the treasurer amounted to $58%,000. g Because of changes in the plans, the contract with Winds and Company was revised to $852,000; the remainder of the bonds were sold at 101, 2 Before the end of the yvear. the building had been completed, and additional contract billings amounting to $219.000 approved. All contract billings were paid by the treasurer to the contractor in final payment for the work. Prepare a preclosing trial balance for the Capital Projects Fund. CITY OF MINDEN Capital Projects Fund Pre-Closing Trial Balance December 31, 2026 Debit Credit S Total S List of Accounts Save for Later Attempts: 0 of 2 used Submit AnswerPrepare entries necessary to close out the Capital Projects Fund on the completion of construction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To close nominal accounts) (To record payment) {To close fund) List of Accounts Prepare a statement of revenues, expenditures, and changes in fund balance for the Capital Projects Fund. CITY OF MINDEN Capital Projects Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2026 Total Total Balance - January 1 Balance - December 31 Excess to Fund BalancePrepare preclosing trial balances at December 31, 2026, for the Debt Service Fund, considering only the proceeds, expenditures, and transfers resulting from transactions of the Capital Projects Fund. MASASI COMPANY, INC. Trial Balance June 30, 2011 Debit Credit Debt Service Fund S 5 Total List of Accounts Save for Later Attempts: 0 of 2 used Submit