A $910,000 Bond Was Issued on October 1, 2013 to Build

question 37

Essay

A $910,000 bond was issued on October 1, 2013 to build a new road. The bonds carried a 6% interest rate and are due in 10 years.
Required:
(A.) Prepare the required journal entry in the Capital Projects Fund on October 1 for the Fund Financial Statements.
(B.) Prepare the required journal entry for the Government-Wide Financial Statements.

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Definitions:

Empowerment

The process of becoming stronger and more confident, especially in controlling one's life and claiming one's rights.

Empowering

The act of giving someone the authority or confidence to do something, fostering independence and self-determination.

Suggestion Involvement

The act of making proposals or recommendations as a part of the engagement in a process or discussion.

Theory Y

A management theory that assumes employees are self-motivated, enjoy work, and will take responsibility if given the opportunity.