ACCT567 Week 3 Problems 5-3 and 6-5

Apr 23rd, 2015
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ACCT567 Week 3 Problems 5-3 and 6-5

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Homework: week 311/13/2012Problem 5 - 3City of FordacheGeneral Capital AssetsDebit1 General Fund:There would be no entry since there is noflow of financial resourcesGovernmental Activities:landProgram Revenue-Parks and RecreationCapital Grants and Contributions2 General Fund:CashOther Financing Sources-Proceeds of Capital Asset SaleGovernmental Activities:CashAccumulated DepreciationMachinery and Equipment3 General Fund:Expenditures-General GovernmentOther Financing Sources-Capital Lease AgreementsCashGovernmental Activities:Machinery and EquipmentCapital Lease Obligation PayableCapital Lease Obligation PayableCash4 Capital Projects Fund:CashRevenueConstruction ExpendituresCashGovernmental Activities:CashProgram Revenue-Public SafetyCapital Grants and ConstructionConstruction Work in Progress5,200,0006,4006,40028,70030,55030,550550720,0001,176,000720,0001,176,000CashBuildingConstruction Work in Progress9,720,0005 General Fund:There would be no entry since there is noflow of financial resourcesGovernmental Activities:Expenses-General GovernmentMachinary and Equipment1,156,000Problem 6 - 5City of Appleton

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