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Prepare in general journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction.

5. Four months prior to year-end, 6 percent special assessment bonds totaling $500,000 were issued to fund a streetlight improvement project in a local subdivision. The bonds are secondarily backed by the village. The first $25,000 installment will be due from property owners six months after the initial bond issuance, but no debt payments are due in the first year.

5a Debt Service Fund Record the issue of special assessment bonds.

5b Record the current and deferred installment receivable from the local subdivision.

5c Governmental Activities Record the issue of special assessment bonds.

5d Record the current and deferred installment receivable from the local subdivision.

5e Record the interest payable on the special assessment debt.

6. Marketable equity securities held by the debt service fund increased in value by $10,000 during the year.

6 Debt Service Fund

Governmental Activities

Appropriations

Assessments ReceivableCurrent

Assessments ReceivableUnavailable

Bonds Payable

Budgetary Fund Balance

Capital Lease Obligations

Cash

Deferred Inflow of Resources

Encumbrances

Estimated Revenues

ExpendituresInterest

ExpendituresPrincipal

ExpensesInterest on Capital Lease

ExpensesInterest on Long-term debt

ExpensesInterest on Special Assessment debt

Fund BalanceAssigned

Fund BalanceRestricted

Fund BalanceUnassigned

General RevenuesInvestment Earnings

General RevenuesTaxes

Interest Payable

Investments

Other Financing SourcesInterfund Transfers In

Other Financing SourcesInterfund Transfers Out

Other Financing SourcesPremium on Bonds Payable

Other Financing SourcesProceeds of Bonds

Other Financing SourcesProceeds of Refunding Bonds

Other Financing SourcesProceeds of Special Assessment Bonds

Other Financing UsesInterfund Transfers Out

Other Financing UsesProceeds of Refunding Bonds

Other Financing UsesRefunded Bonds

Premium on Bonds Payable

Program RevenuesGeneral Government

Revenues

RevenuesChange in Fair Value of Investments

Serial Bonds Payable

Special Assessment Debt with Governmental Commitment

Term Bonds Payable

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