All numbers are in millions. A new school district receives $4.0 in property tax revenue The school
Fantastic news! We've Found the answer you've been seeking!
Question:
All numbers are in millions.
- A new school district receives $4.0 in property tax revenue
- The school issues $2.0 in proceeds from the sale of bonds designated for general funding.
- The School transfers $1.0 to the debt service fund to be used to pay on the bonds
- The money in the debt service fund earned $.1 interest
- The school purchased 100 desks for classrooms at a total cost of $.2
- The school issued a special property tax levy of $1.0 which it has not received yet
- The school purchased 50 computers at a cost of $.3 but has not yet paid for them.
.Prepare journal entries in the general fund to record each of the transactions or other events.
create a Balance Sheet, and a Statement of Revenue Expenses and Other Charges.
Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
Posted Date: