Question: I need help in this question. Please do them correctly and 100%. the text is clear, just zoom it please and you will see ,

I need help in this question. Please do them correctly and 100%. the text is clear, just zoom it please and you will see , if still issues continnue, let me know

I need help in this question. Please do them correctly and 100%.

the text is clear, just zoom it please and you will see

, if still issues continnue, let me know 2 5 points The

City of Waterman established a capital projects fund for the construction of

2 5 points The City of Waterman established a capital projects fund for the construction of an access ramp from the parking garage to the city's office building to be used by Individuals with disabilities. The estimated cost of the ramp is $220.000. On January 1, 20x2, a 10 percent, $154.000 bond issue was sold at 102 with the premlum transferred to the debt service fund. At that date, the county board provided a $66.000 grant. After a period of negotiation, the city council awarded a construction contract for $184.000 on April 5. 20x2. The ramp was completed on August 8, 20X2: Its actual cost was $192,000. The city council approved payment of the total actual cost of $192,000. In addition to the $192,000, the ramp was carpeted with all-weather material at a cost of $6,500. On November 3, 20x2, the city council gave the final approval to pay for the ramp and the carpeting. After all bills were pald, the remaining fund balance was transferred to the debt service fund. eBook Print References The City of Waterman established a debt service fund to account for the financial resources used to service the bonds issued to finance the ramp is $220.000. The 10 percent. $154.000 bond issue was sold at 102 on January 1, 20X2 It is a 10-year serial bond Issue. The resources to pay the Interest and annual principal will be from a property tax levy. Additional Information: 1. The operating budget for 20X2 Included estimated revenue of $36,800. Budgeted appropriations included $15.400 for principal, $15.400 for Interest, and $4,400 for other items. The budget also included an estimated transfer in of $6.000 from the capital projects fund. The property tax levy was for $44.500 and an allowance for uncollectibles of $5.600 was established. Collections totaled $37.000. The remaining taxes were reclassified as delinquent and the allowance was reduced to $1,900. The bond premium was received from the capital projects fund. 3. The current portion of the serial bonds and the Interest due this year were recorded and pald. Other expenses charged to the debt service fund totaled $1.890, of which $1,390 was pald. 4. The nominal accounts were closed. Required: a. Prepare entries for the debt service fund for 20x2 (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Required: a. Prepare entries for the debt service fund for 20x2 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction Mat Journal entry worksheet

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