Transaction as program revenues-public works-capital grants, Accounting Basics

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Transaction as program revenues-public works-capital grants

On January 2, 2011, special assessments in the amount of $1,000,000 were recorded as receivable; revenue in that amount was recognized.

Required: Prepare the journal entries to record this transaction in the Street Improvement Fund and governmental activities journals. In the governmental activities journal, record the transaction as Program Revenues-Public Works-Capital Grants and Contributions.

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Accounting Basics: Transaction as program revenues-public works-capital grants

Reference No:- TGS072894

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Accounting Basics: Transaction as program revenues-public works-capital grants

Reference No:- TGS072894

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : The relationship of status and age to gender in the u.s

Q : Prepare the journal entries to record the billing

Q : What is the current year''s asset turnover ratio

Q : How many agents should manager hire if wage rate is given

Q : Transaction as program revenues-public works-capital grants

Q : What would be the total combined direct labor cost

Q : You have been hired by a large public school

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Transaction as program revenues-public works-capital grants

Reference No:- TGS072894

Recent Questions Asked Accounting Basics

Q : The relationship of status and age to gender in the u.s

Q : Prepare the journal entries to record the billing

Q : What is the current year''s asset turnover ratio

Q : How many agents should manager hire if wage rate is given

Q : Transaction as program revenues-public works-capital grants

Q : What would be the total combined direct labor cost

Q : You have been hired by a large public school

Q : Choose and decide on a specific issue to explore

Q : Determine opportunity cost of attending class session

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