Business, 07.10.2019 19:20 hwhite41

The citizens of spencer county approved the issuance of $2,002,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. a capital projects fund was established for that purpose. the preclosing trial balance of the courthouse annex capital project fund follows: trial balance—december 31, 2017 debits credits cash $ 903,000 contract payable $ 548,000 due from state government 187,000 encumbrances 103,000 expenditures—capital 1,849,000 intergovernmental grant 389,000 ofs: premium on bonds 53,000 ofs: proceeds sale of bonds 2,002,000 budgetary fund balance— reserve for encumbrances 103,000 ofu: transfer out 53,000 $ 3,095,000 $ 3,095,000 required: a. prepare any closing entries necessary at year-end. b. prepare a statement of revenues, expenditures, and changes in fund balance for the courthouse annex capital project fund. c. prepare a balance sheet for the courthouse annex capital project fund, assuming all unexpended resources are restricted to construction of the courthouse annex.

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The citizens of spencer county approved the issuance of $2,002,000 in 6 percent general obligation b...

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