Prepare journal entries for capital projects fund and the
Prepare journal entries for capital projects fund and the government-wide governmental activities general journal for each of the following unrelated transactions. (The General Fund should not be used.)
1.A town secures a note payable in the amount of $150,000 to pay initial expenses for construction of a new police station. Town administrators plan to repay this note within three months with tax revenues and issue a construction bond shortly thereafter. 2. A county secures a bond anticipation note in the amount of: county commissioners recommended that the finance department refinance the bond anticipation note by issuing a construction bond when construction activity begins. 3. Due to an unexpected change in interest rates, a village issued a $2,900,000 bond at 98 percent of par value.. The bond was issued to fund construction of a bike path, including restrooms and picnic shelters. It is expected that the shortage will be covered by a future transfer from another fund.4.A city issued a $4,900,000 bond at 101 to fund construction of a city hall addition. (You can assume that the premium is directly deposited in the debt service fund, and you need not prepare the debt service fund entry).5. A borough sold $4,900,000 of 8 percent construction-related bonds dated January 1 on March 1 at par. The construction is related to governmental activities.
Stressed over that homework?
Essay deadline breathing down your neck?
Let’s cut to the chase: Why struggle when you can ace it with zero hassle?
Whether it’s essays, research papers, or assignments — we’ve got you covered.
✅ Expert writers ✅ 100% original work ✅ No AI tools, just real pros
We are GradeEssays.com, the best college essay writing service. We offer educational and research assistance to assist our customers in managing their academic work. At GradeEssays.com, we promise quality and 100% original essays written from scratch.
Contact Us
Enjoy 24/7 customer support for any queries or concerns you have.
