Use the Following to Answer the Next Four Questions

question 75

Multiple Choice

Use the following to answer the next four questions:
On April 1, 2014, the City of Southern Ponds issued $4,000,000 in 4% general obligation, tax supported bonds at 101 for the purpose of constructing a new police station. The premium was transferred to a debt service fund. A total of $3,990,000 was used to construct the police station, which was completed before December 31, 2014, the end of the fiscal year. The remaining funds were transferred to the debt service fund. The bonds were dated April 1, 2014, and paid interest on October 1 and April 1. The first of 20 equal annual principal payments of $200,000 is due April 1, 2015.
-What amount would be reported as debt service expenditures for 2014?

• A) $162,000
• B) $160,000.
• C) $ 80,000.
• D) Zero

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Definitions:

Nurture Spirit

The process of fostering personal growth, emotional well-being, and a sense of purpose.

Well-balanced Diet

A nutritional regime that includes a variety of foods in the right proportions to sustain health and energy levels.

High-fiber

Referring to foods or diets containing a significant amount of dietary fiber, beneficial for digestive health.

Knees Bent

A position in which the knees are moved away from their straight alignment and towards the body, often to lower one's stance or prepare for an activity.