To answer this you can use the 2nd pic as it has all of the info(problem 18) you need answer question 19

19. 114 points Using the journal entries prepared in the previous problem (Q#18), prepare the Statement of Revenues, Expenditures and Changes in Fund Balance for the Capital Projects Fund for both 2020 and 2021, using good form. In addition, prepare the Balance Sheet at December 31, 2020 and 2021, using good form. At the end of 2019, Pirate County's Capital Projects Fund had S270,000 cash on hand, and an unreserved fund balance of $270,000. Note: you are being asked to prepare the fund financial statements for the Capital Projects Fund only. In order to keep things simple, put 2020 and 2021 in adjacent columns (side-by-side) 5 Format BIU : 12 15 18 21 > Question 2014 ge 1: 2 3 5 6 Pirate County, which uses the encumbrance accounting system and the calendar year, began operations in 2019. All appropriations lapse at year-end. Using good form, prepare the necessary journal entries to record the following transactions in the Capital Projects Fund Record these transactions in 2020 a) In 2020, the county issues purchase orders for materials needed to construct a road totaling $480,000 b) In 2020, the county receives (and pays fot) $450,000 of the nooded materials. The remaining materials are expected to be received next year. c) The county transferred $280,000 from the general fund to the capital projects fund. d) Actual property tax revenues for 2020, all received in cash, are $360,000 e) Prepare closing journal entries for 2020, Record these transactions in 2021 1) At the start of 2021, restore encumbrances of the previous year, 2) In 2021, the county receives and pays for the remaining materials that were ordered in 2020. Actual cost is $35.000 h) Actual property tax revenues for 2021. all received in cash, are $210,000 i) In 2021, the county receives $90,000 when it issues long-term bonds 1) Prepare closing journal entries for 2021. 7 8 9 LO 11 12 13 14 15 V v BIV $280.000 c.) 16 17 18 $280,000 d) $360,000 19 20 $360,000 21 :) Format General Projects Fund Capital Projects Fund Cash Purchase Sales Revenue Income Summary Income Summary Purchase Retained Earnings Income Summa $360,000 $360,000 $450,000 $450,000 $90,000 $90,000 1.) 515,000 $35.000 h.) $210,000 $210,000 1) 590,000 No Entry Purchase Cash Cash Sales Reven Cash Long Term, Bonde Sales Revenise Income Summary Income Summary Purchase Retained in Income Summary $90,000 j) $210,000 210,000 535.000 $35.000 5175.000 S175.000 19. 114 points Using the journal entries prepared in the previous problem (Q#18), prepare the Statement of Revenues, Expenditures and Changes in Fund Balance for the Capital Projects Fund for both 2020 and 2021, using good form. In addition, prepare the Balance Sheet at December 31, 2020 and 2021, using good form. At the end of 2019, Pirate County's Capital Projects Fund had S270,000 cash on hand, and an unreserved fund balance of $270,000. Note: you are being asked to prepare the fund financial statements for the Capital Projects Fund only. In order to keep things simple, put 2020 and 2021 in adjacent columns (side-by-side) 5 Format BIU : 12 15 18 21 > Question 2014 ge 1: 2 3 5 6 Pirate County, which uses the encumbrance accounting system and the calendar year, began operations in 2019. All appropriations lapse at year-end. Using good form, prepare the necessary journal entries to record the following transactions in the Capital Projects Fund Record these transactions in 2020 a) In 2020, the county issues purchase orders for materials needed to construct a road totaling $480,000 b) In 2020, the county receives (and pays fot) $450,000 of the nooded materials. The remaining materials are expected to be received next year. c) The county transferred $280,000 from the general fund to the capital projects fund. d) Actual property tax revenues for 2020, all received in cash, are $360,000 e) Prepare closing journal entries for 2020, Record these transactions in 2021 1) At the start of 2021, restore encumbrances of the previous year, 2) In 2021, the county receives and pays for the remaining materials that were ordered in 2020. Actual cost is $35.000 h) Actual property tax revenues for 2021. all received in cash, are $210,000 i) In 2021, the county receives $90,000 when it issues long-term bonds 1) Prepare closing journal entries for 2021. 7 8 9 LO 11 12 13 14 15 V v BIV $280.000 c.) 16 17 18 $280,000 d) $360,000 19 20 $360,000 21 :) Format General Projects Fund Capital Projects Fund Cash Purchase Sales Revenue Income Summary Income Summary Purchase Retained Earnings Income Summa $360,000 $360,000 $450,000 $450,000 $90,000 $90,000 1.) 515,000 $35.000 h.) $210,000 $210,000 1) 590,000 No Entry Purchase Cash Cash Sales Reven Cash Long Term, Bonde Sales Revenise Income Summary Income Summary Purchase Retained in Income Summary $90,000 j) $210,000 210,000 535.000 $35.000 5175.000 S175.000