REQUIREMENTS-BRIDGE CAPITAL PROJECTS FUND (HARVEY CITY CASE)

a) Prepare a worksheet for Bridge Capital Projects Fund. Enter the effects of the following transactions and events in the appropriate columns of the worksheet.

b) Enter the preclosing trial balance in the appropriate worksheet columns

c) Enter the preclosing trial balance amounts in the closing entry and postclosing trial balance (balance sheet data) columns, as appropriate.

d) Prepare the 20X4 statement of revenues, expenditures, and changes in fund balance for the Bridge Capital Projects Fund.

e) Prepare the 20X4 year-end balance sheet for the Bridge Capital Projects Fund.

1) Estimated revenues and other financing sources for 20X2 included budgeted investment income of $25,000 and a budgeted transfer from the General Fund of $55,000. Unexpended appropriations of $1,720,000 carried over from the prior year. (Record the budget.)

2) The city reestablished its encumbrances if $1,720,000 that were closed at the end of 20X3.

3) The contractor billed the city $1,800,00 for the costs to complete the bridge. The project received final approval. The total cost of $3,500,00 included the costs of $1,700,00 incurred in 20X3.

4) The city sold the Capital Projects Fund Investments for $ 1,660,000, a gain of $10,000.

5) The city transferred $70,000 from the General Fund to the Bridge Capital Projects Fund.

6) The city paid the contractor the balance due, $1,885,000, and the fund was terminated.

7) The budgetary accounts were closed at year end. ( Close the budgetary accounts in the transactions columns.)