Top Posters
Since Sunday
n
3
j
3
x
2
c
2
2
p
2
n
2
3
2
C
2
z
2
k
2
d
2
This topic contains 1 attachment.
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
derro derro
wrote...
Go to Answer
Posts: 866
Rep: 6 0
5 years ago
Use the formatted answer sheet provided to analyze the effects of each of transaction on the accounting equations of each fund or nonfund account affected by the transaction. Indicate increases by positive amounts; indicate decreases by putting the amount in parentheses.

1.   Beverly County issued at par $20 million of general obligation, 10%, 10-year bonds. The resources are to be used to construct a new civic center downtown.

2.   The county paid $100,000 to Fancy Dan Construction Company for work completed during the year.

3.   During the year the county transferred $250,000 of general fund cash to the fund from which the bonds are to be repaid. The purpose of shifting the resources was to provide for the principal and interest payments to be made during the fiscal year.

4.   $200,000 of the bonds and $20,000 of interest matured and were paid.

   Fund Affected   
Governmental Funds   GCA and GLTL
Nonfund Accounts
      CA   − CL   = FB   GCA   − GLTL   = NP
1.                     
                     
2.                     
                     
3.                     
                     
4.                     
                     

 
Textbook 
Governmental and Nonprofit Accounting

Governmental and Nonprofit Accounting


Edition: 11th
Authors:
Read 39 times
1 Reply
Replies
Answer verified by a subject expert
bio_manbio_man
wrote...
#1
Educator
Top Poster
Posts: 33249
Rep: 3442 15
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
 Attached file 
(84.88 KB)
You must login or register to gain access to this attachment.
1

Related Topics

derro Author
wrote...

5 years ago
this is exactly what I needed
njn;l
wrote...

Yesterday
Good timing, thanks!
smi3
wrote...

2 hours ago
Thank you, thank you, thank you!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1022 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 81
  
 4432
  
 1092
Your Opinion
Where do you get your textbooks?
Votes: 372
Previous poll results: Which country would you like to visit for its food?