Capital Projects Funds and Debt Service Funds
1. On January 1, 2010, approval was obtained to...
Business, 14.03.2020 01:51 xxaurorabluexx
Capital Projects Funds and Debt Service Funds
1. On January 1, 2010, approval was obtained to begin construstion of a new city hall. As a result
of this approval, $2,800,000 in 5-year serial bonds, which a face interest rate of 7%, were sold
at 104 (an effective rate of 6%). Principal and interest payments are made semiannually beginning
July 1, 2010.The premium is to be used for debt payments for principal and interest.
January 1, 2010
CPF GT
DSF
2. On January 3, 2010, a $2,800,000 contract with GoodBuild Construction was signed for the construction.
January 3, 2010
CPF GT
3. On June 30, 2010, a bill for $1,400,000 was received from GoodBuild as a result of one-half of the work on the construction being completed.
June 30, 2010
CPF GT
CPF GT
4. On July 1, 2010, the first debt payment for capital project bond was made.
July 1, 2010
DSF GT
5. On July 15, 2010, the bill from GoodBuild was paid , less a 10% retainage to ensure performance.
July 15, 2010
CPF GT
6. On October 1, 2010, a bill for $1,400,000 was received from GoodBuild in recognition of the completion of work on the city hall addition
Oct. 1, 2010
CPF GT
CPF GT
7. On November 3, 2010, after approval by the city inspectors, all amounts owed to GoodBuild were paid.
Nov. 3, 2010
CPF GT
8. On January 1, 2011, the next payment on the capital project bond was made.
Jan. 1, 2011
DSF GT
9. On August 1, 2012, the city entered into a capital lease agreement to purchase new equipment for its road crews. The agreement called for an initial
payment of $12,000, with eight more equil annual payments of $15,000 beginning August 1, 2013. The city's normal cost of borrowing is 8%. The
initial payment was made as agreed and the equipment was purchased. The General Fund handled all activities related to this transaction.
Aug. 1, 2012
GF GT
10. On August 1, 2013, the first annual payment is made on the capital lease agreement.
Aug. 1, 2013
DSF GT
11. On December 31, 2013, depreciation of $300,000 is recorded as appropriate for all govermental capital assets.
Dec. 31, 2013
DFS GT
Answers: 3
Another question on Business
Business, 22.06.2019 21:30
Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach
Answers: 3
Business, 23.06.2019 00:00
Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500
Answers: 3
Business, 23.06.2019 00:50
Janis owns and operates a store in a country experiencing a high rate of inflation. in order to prevent the value of money in her cash register from falling too quickly, janis sends an employee to the bank four times per day to make deposits in a interest-bearing account that protects the store's revenues from the effects of inflation. this is an example of the (menu costs/ unit of account costs/ shoesleather costs) of inflation. pick one
Answers: 3
You know the right answer?
Questions
Mathematics, 15.10.2019 16:10
Chemistry, 15.10.2019 16:10
Mathematics, 15.10.2019 16:10
English, 15.10.2019 16:10
English, 15.10.2019 16:10
Geography, 15.10.2019 16:10
English, 15.10.2019 16:10
Mathematics, 15.10.2019 16:10
