Statement of Revenues, Expenditures, and Changes in Fund Balance. The pre closing trial balance for the Annette County Public Works Capital Project Fund is provided below.
| Debits Don't use plagiarized sources. Get Your Custom Essay on prepare the june 30 2011 statement of revenues expenditures and changes in fund bala 641559 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Credits | |
| Cash | $ 701,000 | |
| Grant Receivable | 500,000 | |
| Investments | 800,000 | |
| Contract Payable | $ 835,000 | |
| Contract Payable—Retained Percentage | 24,000 | |
| Reserve for Encumbrances | 1,500,000 | |
| Revenues | 680,000 | |
| Encumbrances | 1,500,000 | |
| Construction Expenditures | 3,338,000 | |
| Other Financing Sources—Proceeds of Bonds | 3,800,000 | |
| $6,839,000 | $6,839,000 |
Required
a. Prepare the June 30, 2011, statement of revenues, expenditures, and changes in fund balance for the capital projects fund.
b. Has the capital project been completed? Explain your answer.
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