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The Village of Hawksbill issued $ 4 , 0 0 0 , 0 0 0 in 5 percent general obligation, tax - supported bonds on
The Village of Hawksbill issued $ in percent general obligation, taxsupported bonds on July at a premium of percent. A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment dates are December and June The first of annual principal payments will be made on June Hawksbill has a calendar fiscal year. A capital projects fund transferred the premium to the debt service fund. On December funds in the amount of $ were received from the General Fund, and the first interest payment was made. The books were closed for On June funds in the amount of $ were received from the General Fund, and the second interest payment $ was made along with the first principal payment $ On December funds in the amount of $ were received from the General Fund, and the third interest payment was made also in the amount of $ The books whe closed for Required: a Prepare journal entries to record the events above in the debt service fund. b Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December c Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December
The Village of Hawksbill issued $ in percent general obligation, taxsupported bonds on July at a premium of percent. A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment dates are December and June The first of annual principal payments will be made on June Hawksbill has a calendar fiscal year.
A capital projects fund transferred the premium to the debt service fund.
On December funds in the amount of $ were received from the General Fund, and the first interest payment was made.
The books were closed for
On June funds in the amount of $ were received from the General Fund, and the second interest payment $ was made along with the first principal payment $
On December funds in the amount of $ were received from the General Fund, and the third interest payment was made also in the amount of $
The books whe closed for
Required:
a Prepare journal entries to record the events above in the debt service fund.
b Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December
c Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December
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