The City maintains its books and records in a manner that facilitates the preparation of the financial statements of the fund. The city maintains a general fund, a capital projects fund, and a special revenues fund. After studying the transactions in which the city participated, record each of these based on: a) the fund financial statement and identifies the fund into which the entry is made, and b) in governmental activities (goverment-wide financial statements) 1. The city sold bonds, face value $26 million, at par to finance the construction of a new city hall. 2. The city purchased two new police cars at a total cost of $50,000. 3. The city collected $8,000 in taxes for the eradication of noxious weeds. 4. The city spent $6,000 on pesticides for noxious weeds. 5. The city purchased a new tractor for $80,000. The city paid $20,000 in cash and signed a promissory note that is due in three years. Identify Fund Financial Statement Government-Wide financial Statement Type of fund Type of fund
Classify and journalize the different transactions in the corresponding fund
The City maintains its books and records in a manner that facilitates the preparation of the financial statements of the fund. The city maintains a general fund, a capital projects fund, and a special revenues fund.
After studying the transactions in which the city participated, record each of these based on:
a) the fund financial statement and identifies the fund into which the entry is made, and
b) in governmental activities (goverment-wide financial statements)
1. The city sold bonds, face value $26 million, at par to finance the construction of a new city hall.
2. The city purchased two new police cars at a total cost of $50,000.
3. The city collected $8,000 in taxes for the eradication of noxious weeds.
4. The city spent $6,000 on pesticides for noxious weeds.
5. The city purchased a new tractor for $80,000. The city paid $20,000 in cash and signed a promissory note that is due in three years.
Identify
Fund Financial Statement Government-Wide financial Statement
Type of fund Type of fund
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