Solution 0132753065 pdf Need the journal entries The city received a 1 500 000 economic development grant from the state s Department of Economic Development
Solution pdf Need the journal entries The city received a economic development grant from the state
Solution pdf Need the journal entries The city received a economic development
journal entries The city received a economic development grant from the state s Department of Economic Development
Solution pdf Need the journal entries The city received a
economic development grant from the state s Department of Economic Development
Solution pdf Need the journal entries The city
Solution pdf Need the
(Solution) 0132753065.pdf Need the journal entries:The city received a $1,500,000 economic development grant from the state's Department of Economic Development....

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0132753065.pdf Need the journal entries:1.The city received a $1,500,000 economic development grant from the state’s Department of Economic Development. The grant cash was received and is to be used in certain specified efforts to attract new businesses to the city and surrounding area. 2.The city purchased investments of $1,300,000. The grant requires that all investment income from the investment of the grant proceeds must be used for economic development.3. The city received interest on its investments, $55,000. 4. The city incurred and vouchered $840,000 of economic development expenditures that qualify under the state grant program. 5. The city paid salaries of $75,000 to economic development personnel. The payment included $450 of accrued salaries payable from the prior year. The salaries expenditures qualify under the grant program. 6. The city sold investments costing $800,000 for $815,000. 7. The city paid $800,000 on vouchers payable for economic development. 8. The fair value of the investments of the Economic Development Special Revenue Fund at year end increased by $1,700. In addition, accrued interest on the investments at year end was $12,000. 9. Accrued salaries payable at year end totaled $200.

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