Question
The year-end pre-closing trial balance for the Woodland Park Capital Projects Fund is provided below. Debits Credits Cash $ 987,000 Grant Receivables 600,000 Investments 1,000,000
The year-end pre-closing trial balance for the Woodland Park Capital Projects Fund is provided below. Debits Credits Cash $ 987,000 Grant Receivables 600,000 Investments 1,000,000 Contracts Payable $ 1,263,500 Contracts PayableRetained Percentage 66,500 Encumbrances Outstanding 1,625,000 Revenues 707,000 Encumbrances 1,625,000 Construction Expenditures 4,150,000
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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Workbook/Study Guide To Accompany Managerial Accounting
Authors: Ray H Garrison, Eric Noreen, Peter C. Brewer
11th Edition
0072986131, 978-0072986136
