Capital Project Transactions The City of Fargo, North Dakota authorized construction of a new levee...
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Capital Project Transactions The City of Fargo, North Dakota authorized construction of a new levee to control flooding, on February 1, 2020. The $40,000,000 project will be financed by a bond issue to be sold in March 2020. The city's fiscal year ends June 30. The following events occurred in fiscal 2020 : Required a. Record all necessary entries in the capital projects fund for the above information, including closing entries. b. Assuming this is the only project reported in the capital projects fund, prepare its statement of revenues, expenditures, and changes in fund balances and ending balance sheet for fiscal 2020. - Enter answers using all zeros (do not abbrevate to millions or thousands). - Do not negative signs with any of your answers below
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