940 each. Analyze common journal entries for transactions, including interfund activity ... capital projects. (We Suggest You Post The Journal Entries To Ledger T-accounts.) Capital projects are usually expensive and are to be utilized for many years. Record the following journal entries for a Capital projects fund: a. A city issued a $5,000,000 bond at 101 to fund construction of a city hall addition. This transaction should be recorded in: A. Prepare journal entries to reï¬ect the transactions in the cityâs government-wide statements. Fund Obj Account DR CR 4000 9110000 Cash 200,000 . ... project expenses ⢠Generate a journal entry to move payroll expenses into projects ... ⢠Return unspent funding as follows: 1. Question: Part C (1) Chapter 6 Journal Entries For Capital Projects Fund Transactions At The Start Of 2019, Croton's Capital Projects Fund Had No Assets Or Liabilities. School District Annual Financial Report CO&DS Entries For Fiscal Year 2014-2015 Alachua County School District. be capitalized. Capital Projects Fund Other financing source Proceeds From Bonds {1 - 6} 1,711,000.27 Capital Projects Fund Other financing source Premium on Debt Issuance {2 - 8} 49,393.38 Capital Projects Fund Expenditure Debt Issuance Costs {4 + 5} 52,581.14 Capital Projects Fund Asset Capital Borrowing Checking {7 + 9 - 3} 1,707,812.51 What is a Capital Projects Fund? Construction bonds worth $7,000,000 were sold at par by the Capital Projects Fund. Sl no. Capital projects are ⦠Non-Bond funds to the originating source accounts 2. I have to make sure my entry reflects the nature of the transfer. In case if you wish to join our forum, please send an email seeking an invitation to "[email protected]". Deferred Maintenance is returned via the B&G Committee 3. âNamedâ project funding is reallocated and the RCW 28A.320.330 requires school districts in Washington state to establish a General Fund, Capital Projects Fund, Debt Service Fund, and Associated Student Body Fund (Special Revenue Fund). Revenues and Other Financing Sources Proceeds from Debt Issuance Basic journal entries to record ⦠- Selection from Wiley GAAP for Governments 2015: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments [Book] for the accounting of bond issues, Capital Projects Funds, and Debt Service Funds. A major remodeling of a building, new construction, and creation and implementation of a large computerized system are all examples of capital projects. The capital projects fund records appropriations as a memorandum entry only (does not record the budget in ⦠Illustration: On 1.1.2009, X Ltd. bought 100, 12% Govt. (Journal entries for several funds and financial statements for a Capital Projects Fund) Following is a trial balance for the Tilker Falls Boat Marina Capital Projects Fund and the transactions that relate to the 2012â2013 fiscal year. Prepare Appropriate Journal En- General Tries To Record These Transactions In The Capital Projects Fund. Prepare financial statements for capital projects funds 4. Prepare general fund journal entries to record the following cash transfers that a city made from its general fund to other funds. The following is a sample Due To/Due From Journal Entry after June 30: Fund Obj Account DR CR 4000 9311001 Due From Other Funds ⦠What fund journal entries would be made for this transaction? ... " Journal Entry: Due from Fund Revenue GA: Due from Business Activities General Revenues. C. The special revenue fund. A capital projects fund transferred the premium ($50,000) to the debt service fund. Street Improvement Capital Projects Fund and Governmental Activities at the Government-wide Level During late 2016, the voters of the City of Smithville authorized tax-supported bond issues totaling $8,000,000 as partial financing for a series of projects to construct streets, curbs, culverts, and storm sewers in various parts of the city. Setting Up Capital Projects. However, capital projects funds may also be used to provide accounting control over a capital projectâs expenditures, even if restricted resources or long-term debt does not finance the project. 2. On December 31, 2011, funds in the amount of $150,000 were received from the General Fund and the first interest payment was made. ... PF resources transferred to other funds to subsidize operations #7 Principal & interest [Page 76] Transfer to DSF Cash 5,000 5,000 Financial Assets Fund Balance 3. 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