8. The pre-closing trial balance for the Annette County PublicWorks Capital Project Fund is provided below.DebitsCreditsCash $700,000Grant Receivable750,000Investments800,000Contract Payable$ 834,000Contract Payable-Retained Percentage24,000Reserve for Encumbrances2,500,000Revenues930,000Encumbrances2,500,000Construction Expenditures2,338,000Other Financing Sources-Proceeds of Bonds2,800,000Total$7,088,000Required$7,088,000a. Prepare the June 30, 2011, statement of revenues,expenditures, and changes in fund balance for the capitalprojects fund.b. Has the capital project been completed? Explain youranswer.

Solution: (a). Annette county public works capital project fund Statement of revenues ,…

Answered: 8. The pre-closing trial balance for…

Business

Accounting

8. The pre-closing trial balance for the Annette County Public Works Capital Project Fund is provided below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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