The pre-closing trial balance for the Chance County Woodland Park Capital Projects Fund is provided on the
Question:
The pre-closing trial balance for the Chance County Woodland Park Capital Projects Fund is provided on the next page.
Required
a. Prepare the June 30, 2017, statement of revenues, expenditures, and changes in fund balances for the capital projects fund.
b. Has the capital project been completed? Explain your answer.
Transcribed Image Text:
Debits $987,000 600,000 1,000,000 Credits Cash Grant Receivables Investments Contract Payable Contract Payable-Retained Percentage Encumbrances Outstanding Revenues Encumbrances Construction Expenditures Other Finanking Sources-Proceeds of Bonds $1,263,500 66,500 1,625,000 707,000 1,625,000 4,150,000 4,700,000 58,362,000 $8,362,000
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Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078025822
17th edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
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