A $910,000 Bond Was Issued on October 1, 2018 to Build

question 82

Essay

A $910,000 bond was issued on October 1, 2018 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 governmental fund financial statements.
(B.) Prepare the required journal entry for the government-wide financial statements.

Understand the concept and components of the lymphatic system and its role in immunity.

Recognize the clinical applications of immune knowledge in immunotherapy.

Understand the dynamic nature and growth of the paralegal profession.

Recognize the value and types of certification, licensing, and education for paralegals.

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Definitions:

Wholly Owned Subsidiary

A company whose entire share capital is held by another company, making it a completely controlled entity of the parent company.

Equity Method

An accounting technique used to record investments in other companies, where the investment is initially recorded at cost and adjusted for the investor's share of the investee's profit or loss.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was acquired and put into use.

Net Income

The profit of a company after all expenses and taxes have been deducted from total revenue.