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The City of Southern Pines, during the year, incurred expenditures for capital outlays amounting to $22,500,000. Depreciation incurred for the year was calculated to be
The City of Southern Pines, during the year, incurred expenditures for capital outlays amounting to $22,500,000. Depreciation incurred for the year was calculated to be $1,500,000. (2 entries - 2 points). Ff A B 1 iii !!! The City of Southern Pines maintains its books so as to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide financial statements. You are to prepare, in journal form, worksheet adjustments for each of the following situations. Use the account titles presented during the first 4 weeks where appropriate. Use the account title referred to in the question for all other entries (general obligation bonds = Bonds Payable)
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