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Exercise 5-24(Static) Capital Projects Fund Financial Statements [LO 5-5] The year-end pre-closing trial...

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Accounting

Exercise 5-24(Static) Capital Projects Fund Financial Statements [LO 5-5]
The year-end pre-closing trial balance for the Woodland Park Capital Projects Fund is provided below.
Debits Credits
Cash $ 987,000
Grant Receivables 600,000
Investments 1,000,000
Contracts Payable $ 1,263,500
Contracts PayableRetained Percentage 66,500
Encumbrances Outstanding 1,625,000
Revenues 707,000
Encumbrances 1,625,000
Construction Expenditures 4,150,000
Other Financing SourcesProceeds of Bonds 4,700,000
$ 8,362,000 $ 8,362,000

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