When a city issues general obligation bonds with a face value of $10,000,000 for $10,500,000 and incurs
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When 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 in the Capital Projects Fund Statement of Revenues, Expenditures, and Changes in Fund Balance?
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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The face amount of bonds issued is reported as another financing source and must be presented s...View the full answer
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Related Book For 
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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