Financial Statement Prepare a statement of revenues, expenditures, and changes in fund balance for the City of Solomon Capital Projects Fund for 2020, given the following information: Account Title Fund balance, January 1, 2020 Intergovernmental grant revenue Interest Revenue Increase in fair value of investments Construction expenditures Architect fees Engineering fees Bond proceeds (face amount was $1,000,000) Bond issuance costs Purchase of Land Repayment of bond notes (long-term debt) Principal Interest Revenue Transfer from General Fund Construction contracts outstanding at year end Amount 2,000,000 850,000 30,000 3,000 2,400,000 32,000 17,000 1,008,000 5,000 92,000 600,000 3,500 250,000 450,000

Financial Statement Prepare a statement of revenues, expenditures, and changes in fund balance for the City of Solomon Capital Projects Fund for 2020, given the following information: Account Title Fund balance, January 1, 2020 Intergovernmental grant revenue Interest Revenue Increase in fair value of investments Construction expenditures Architect fees Engineering fees Bond proceeds (face amount was $1,000,000) Bond issuance costs Purchase of Land Repayment of bond notes (long-term debt) Principal Interest Revenue Transfer from General Fund Construction contracts outstanding at year end Amount 2,000,000 850,000 30,000 3,000 2,400,000 32,000 17,000 1,008,000 5,000 92,000 600,000 3,500 250,000 450,000

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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