In 2017,Sunrise City Signed a Contract in the Amount of $8,000,000

question 51

Multiple Choice

In 2017,Sunrise City signed a contract in the amount of $8,000,000 for the construction of a new city hall.Expenditures were $4,000,000 in 2017 and $2,050,000 in 2018,which included a change to the original construction design in the amount of $50,000.What amount should be added to capital assets in the governmental activities accounts in 2018?

• A) $ 0
• B) $ 50,000
• C) $ 2,050,000
• D) $ 2,000,000

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Definitions:

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