The City of Grinders Switch maintains its books in a manner that facilitates the preparation of fund accounting statements and uses worksheet adjustments to prepare government wide statements General fixed assets as of the beginning of the year, which had not been recorded, were as follows Land $ 7,696,000 Buildings 33,381,000 Improvements Other Than Buildings 14,831,600 Equipment 11,563,000 Accumulated Depreciation, Capital Assets 25,319,800 During the year, expenditures for capital outlays amounted to $7,506,000 Of that amount, $4,803,800 was for buildings the remainder was for improvements other than buildings The capital outlay expenditures outlined in (2) were completed at the end of the year (and will begin to be depreciated next year) For purposes of financial statement presentation, all capital assets are depreciated using the straight line method, with no estimated salvage value Estimated lives are as follows buildings, 40 years improvements other than buildings, 20 years and equipment, 10 years In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $600,600 The land originally cost $505,600 At the beginning of the year, general obligation bonds were outstanding in the amount of $4,008,000 Unamortized bond premium amounted to $25,000 Note This entry is not covered in the text, but is similar to entry 9 in the chapter During the year, debt service expenditures for the year amounted to interest, $805,400 principal, $572,000 For purposes of government wide statements, $2,500 of the bond premium should be amortized No adjustment is necessary for interest accrual At year end, additional general obligation bonds were issued in the amount of $2,361,100, at par Required Prepare the journal form, worksheet adjustments for each of the above situations (If no entry is required for a transaction event, select No Journal Entry Required in the first account field Round your answers to the nearest whole dollar )

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The City of Grinders Switch maintains its books in a manner that facilitates the preparation of fund accounting statements and uses worksheet adjustments to prepare

The City of Grinders Switch maintains its books in a manner that facilitates the preparation of fund accounting statements and uses worksheet adjustments to prepare government-wide statements.

General fixed assets as of the beginning of the year, which had not been recorded, were as follows:


Land	$	7,696,000
Buildings		33,381,000
Improvements Other Than Buildings		14,831,600
Equipment		11,563,000
Accumulated Depreciation, Capital Assets		25,319,800

During the year, expenditures for capital outlays amounted to $7,506,000. Of that amount, $4,803,800 was for buildings; the remainder was for improvements other than buildings.
The capital outlay expenditures outlined in (2) were completed at the end of the year (and will begin to be depreciated next year). For purposes of financial statement presentation, all capital assets are depreciated using the straight-line method, with no estimated salvage value. Estimated lives are as follows: buildings, 40 years; improvements other than buildings, 20 years; and equipment, 10 years.
In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $600,600. The land originally cost $505,600.
At the beginning of the year, general obligation bonds were outstanding in the amount of $4,008,000. Unamortized bond premium amounted to $25,000. Note: This entry is not covered in the text, but is similar to entry 9 in the chapter.
During the year, debt service expenditures for the year amounted to: interest, $805,400; principal, $572,000. For purposes of government-wide statements, $2,500 of the bond premium should be amortized. No adjustment is necessary for interest accrual.
At year-end, additional general obligation bonds were issued in the amount of $2,361,100, at par.

Required: Prepare the journal form, worksheet adjustments for each of the above situations. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.)