What are the typical sources of financing for general government capital projects? How are these sources reported in the statement of revenues, expenditures, and changes in fund balance for a Capital Projects Fund?
Answer to relevant QuestionsWhen a city issues general obligation bonds with a face value of $10,000,000 for $10,500,000 and incurs $100,000 of bond issue costs to finance construction of a major general government capital asset, how is this presented ...What are demand bonds? In what circumstances is a government most likely to issue demand bonds? Are demand bonds reported as general long-term liabilities? Explain.Swenson Township issued $5,000,000 of 10-year, 6% bonds on July 1, 20X8. Bond issue costs of $93,000 were incurred. The bonds were issued to finance a courthouse expansion.RequiredRecord the bond issue in the Capital ...Using the Montgomery County, Maryland, preclosing trial balance at June 30, 20X9, presented here, prepare the county’s Capital Projects Fund (a) statement of revenues, expenditures, and changes in fund balance for the year ...The town of Sinking Creek has a semiannual debt service payment of $1,300,000 (including $1,000,000 interest) due on January 3, 20X5. The finance director transferred $1,500,000 from the General Fund to the Debt Service Fund ...
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