Account # Description 11XX Cash 9200/730 Dues and Fees (Issuance costs - … ... " Journal Entry: Due from Fund Revenue GA: Due from Business Activities General Revenues. 2. Prepare general fund journal entries to record the following cash transfers that a city made from its general fund to other funds. The following is a sample Due To/Due From Journal Entry after June 30: Fund Obj Account DR CR 4000 9311001 Due From Other Funds … Deferred Maintenance is returned via the B&G Committee 3. “Named” project funding is reallocated and the Entries resulting from bond issuance and refunding: Fund 310 Capital Projects, COBI Bonds . (The General Fund should not be used.) What fund journal entries would be made for this transaction? 3. What is a Capital Projects Fund? Sl no. JOURNAL ENTRIES State Government Capital Project Fund Journal Entries December 31, 2017 1 2a 2b 3 4a 4b 5 Account be capitalized. A specifically identified capital project such as road repair could still be accomplished with a sub-account. The course will focus on larger capital projects and the use of a capital project fund and debt service fund to track them. Easy enough to position the Savings account offset from other assets and label it as reserved funds. Street Improvement Capital Projects Fund and Governmental Activities at the Government-wide Level. I have to make sure my entry reflects the nature of the transfer. (Journal entries for several funds and financial statements for a Capital Projects Fund) Following is a trial balance for the Tilker Falls Boat Marina Capital Projects Fund and the transactions that relate to the 2012–2013 fiscal year. Once the asset has been completed, the fund is terminated. For asset tracking purposes, the reserve savings account would be listed as reserved assets for capital projects. The capital projects fund. 0100 7612000 I/F Transfer Out 200,000 . The city has identified four funds as major including both the Capital Projects Fund and the Special Revenue Fund associated with the Sacramento Housing and Redevelopment Agency (SHRA). ... project expenses • Generate a journal entry to move payroll expenses into projects ... • Return unspent funding as follows: 1. (We Suggest You Post The Journal Entries To Ledger T-accounts.) b. To offset engineering and design costs incurred prior to the issuance of a long-term bond issue, a capital projects fund borrowed the sum of $75,000 on a short-term basis from First National Bank. Capital Projects Fund Other financing source Proceeds From Bonds {1 - 6} 1,711,000.27 Capital Projects Fund Other financing source Premium on Debt Issuance {2 - 8} 49,393.38 Capital Projects Fund Expenditure Debt Issuance Costs {4 + 5} 52,581.14 Capital Projects Fund Asset Capital Borrowing Checking {7 + 9 - 3} 1,707,812.51 The Journal Entry to move the capital project revenues and expenditures must also balance between the BOR Internal Order and the WBS. The government can classify any fund as major if offi­cials believe it is … Prepare all the journal entries necessary to record these transactions and close the Capital Projects Fund. RCW 28A.160.130 creates a Transportation Vehicle Fund (Capital Projects Fund). Prepare journal entries to reflect the transactions in an appropriate governmental fund (e.g., a general-fund or a capital projects fund). Capital projects are usually expensive and are to be utilized for many years. On December 31, 2011, funds in the amount of $150,000 were received from the General Fund and the first interest payment was made. Analyze common journal entries for transactions, including interfund activity ... capital projects. Prepare journal entries to reflect the transactions in the city’s government-wide statements. Learn faster with spaced repetition. Capital Projects Funds are used for the acquisition, construction, and/or improvement of capital assets including real and/or personal property (i.e., land, buildings, furniture/fixtures, equipment, etc.). Repair could still be accomplished with a sub-account record the events above in the government-wide. Our forum, please send an email seeking an invitation to `` [ email protected ].!, which will be a review from governmental accounting objective, which will be a review from governmental objective.... project expenses • Generate a journal entry to move the capital projects funds, and balance! 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