? ? Book journal entries for the following transactions in both the Capital Projects Fund ledger and
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Book journal entries for the following transactions in both the Capital Projects Fund ledger and Govemment-Wide/Governmental Activities ledger. Background: The Town of Brighton voters approved a measure to add an extension to the local fire station expecting to cost $1,500,000. To pay for this project, the town council authorized an issue of $1,200,000 of 6% bonds as partial financing of the fire station extension and the $300,000 additional financing will be contributed by the state government. 1. Purchase orders were signed and issued for supplies, materials, minor equipment, and labor required for the project to be performed by the town's employees amounting to $443,000. General Fund: Governmental Activities: 2. A contract, in the amount of $1,005,000 was signed for certain work to be done by a private contractor. General Fund: Governmental Activities: 3. Special engineering and miscellaneous costs that had not been encumbered were paid in the amount of $48,000. These costs are deemed to be properly capitalized as part of the fire station. General Fund: Governmental Activities: Book journal entries for the following transactions in both the Capital Projects Fund ledger and Govemment-Wide/Governmental Activities ledger. Background: The Town of Brighton voters approved a measure to add an extension to the local fire station expecting to cost $1,500,000. To pay for this project, the town council authorized an issue of $1,200,000 of 6% bonds as partial financing of the fire station extension and the $300,000 additional financing will be contributed by the state government. 1. Purchase orders were signed and issued for supplies, materials, minor equipment, and labor required for the project to be performed by the town's employees amounting to $443,000. General Fund: Governmental Activities: 2. A contract, in the amount of $1,005,000 was signed for certain work to be done by a private contractor. General Fund: Governmental Activities: 3. Special engineering and miscellaneous costs that had not been encumbered were paid in the amount of $48,000. These costs are deemed to be properly capitalized as part of the fire station. General Fund: Governmental Activities:
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Journal entries for Fire station extension Fund Ac for The Town of Brighton SNo Particulars Debit Am... View the full answer
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
Posted Date:
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