Question: I need help answering No. 2 and 8. The available answers are in the second attached photo. I only have one more try so I
I need help answering No. 2 and 8. The available answers are in the second attached photo. I only have one more try so I need some assistance.
Image transcription text
Current Attempt in Progress Select the name of the fund(s) in which each of the following transactions or events would be recorded. 1. Bonds, the proceeds of which were to be used for the Capital Projects Fund and Debt Service Fund ¢ construction of a new City Hall, were issued. 2. A sum of money was appropriated, to be advanced from monies on hand, to ?nance the establishment of a City Garage for servicing city-owned transportation equipment. 4) Capital Projects Fund 3. A contribution was received from a private source. The use of the income earned on the investment of this sum of money was speci?cally designated by the donon 1} Trust Funds (Proprietary) 4. Proceeds received from a bond issue were used for the purchase of the privately owned water utility in the city. {I Enterprise Fund 5. Property taxes designated to be set aside for the Debt Service Fund eventual retirement of the City Hall building bonds were collected. 1} 6. Real estate and personal property taxes, which had The General Fund not been assessed or levied for any speci?c purpose, were collected. 1} 7. Payment was made to the contractor for progress made in the construction of the new City Hall. 4} Capital Projects Fund 8. Interest was paid on the bonds issued for the Debt Service Fund purchase of the water utility. 1F 9. Bonds, the proceeds of which are to be used to pay for the improvement of streets in the residential district, were issued. The debt is to be serviced by assessments on the property bene?ted. The government is obligated to the bondholders to assure the timely payment of principal and interest on the ?d?h¢? 4} Capital Projects Fund
Image transcription text
flowing transactions of everits would be recorded. d for the Agency Fund anced Capital Projects Fund ment of Capital Projects Fund and Debt Service Fund portation Debt Service Fund Enterprise Fund ource. ent of Enterprise Fund and The General Fund d by the The General Fund The General Fund and Internal Service Fund sed for Internal Service Fund and The General Fund tility in Internal Service Fund Trust Fund (Proprietary) the Debt Service Fund bondsCurrent Attempt in Progress Your answer is partially correct. Select the name of the fund(s) in which each of the following transactions or events would be recorded. 1. Bonds, the proceeds of which were to be used for the construction of a new City Hall, were issued. Capital Projects Fund and Debt Service Fund 2. 3. A sum of money was appropriated, to be advanced from monies on hand, to finance the establishment of a City Garage for servicing city-owned transportation equipment. A contribution was received from a private source. The use of the income earned on the investment of this sum of money was specifically designated by the donor. Capital Projects Fund Trust Funds (Proprietary) 4. Proceeds received from a bond issue were used for the purchase of the privately owned water utility in the city. Enterprise Fund 5. Property taxes designated to be set aside for the eventual retirement of the City Hall building bonds were collected. Debt Service Fund 6. Real estate and personal property taxes, which had not been assessed or levied for any specific purpose, were collected. The General Fund 7. Payment was made to the contractor for progress made in the construction of the new City Hall. Capital Projects Fund 8. Interest was paid on the bonds issued for the purchase of the water utility. Debt Service Fund 9. Bonds, the proceeds of which are to be used to pay for the improvement of streets in the residential district, were issued. The debt is to be serviced by assessments on the property benefited. The government is obligated to the bondholders to assure the timely payment of principal and interest on the debt Capital Projects Fund
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
