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Select the name of the fund ( s ) in which each of the following transactions or events would be recorded. Bonds, the proceeds of
Select the name of the funds in which each of the following transactions or events would be recorded.
Bonds, the proceeds of which were to be used for the construction of a new City Hall, were issued.
A sum of money was appropriated, to be advanced from monies on hand, to finance the establishment of a City Garage for servicing cityowned transportation equipment.
A contribution was received from a private source. The use of the income earned on the investment of this sum of money was specifically designated by the donor.
Proceeds received from a bond issue were used for the purchase of the privately owned water utility in the city.
Property taxes designated to be set aside for the eventual retirement of the City Hall building bonds were collected.
Real estate and personal property taxes, which had not been assessed or levied for any specific purpose, were collected.
Payment was made to the contractor for progress made in the construction of the new City Hall.
Interest was paid on the bonds issued for the purchase of the water utility.
Bonds, the proceeds of which are to be used to pay for the improvement of streets in the residential district, were issued. The debt is to be serviced by assessments on the property benefited. The government is obligated to the bondholders to assure the timely payment of principal and interest on the debt.
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