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The year-end pre-closing trial balance for the Woodland Park Capital Projects Fund is provided below. Debits Credits Cash $ 961,000 Grant Receivables 590,000 Investments 1,000,000
The year-end pre-closing trial balance for the Woodland Park Capital Projects Fund is provided below.
| Debits | Credits | |||||
| Cash | $ | 961,000 | ||||
| Grant Receivables | 590,000 | |||||
| Investments | 1,000,000 | |||||
| Contracts Payable | $ | 1,238,000 | ||||
| Contracts PayableRetained Percentage | 66,000 | |||||
| Encumbrances Outstanding | 1,600,000 | |||||
| Revenues | 697,000 | |||||
| Encumbrances | 1,600,000 | |||||
| Construction Expenditures | 4,100,000 | |||||
| Other Financing SourcesProceeds of Bonds | 4,650,000 | |||||
| $ | 8,251,000 | $ | 8,251,000 | |||
Required
- Prepare the year-end statement of revenues, expenditures, and changes in fund balances for the capital projects fund.
- Prepare the year-end balance sheet. Assume that all fund balances are restricted.
- Has the capital project been completed?
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Compliance Audits And Plans For Healthcare
Authors: Cherilyn G. Murer, Michael A. Murer, Lyndean Lenhoff Brick, Healthcare Financial Management Association (U. S.)
1st Edition
0070444625, 978-0070444621
