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Best County’s capital projects fund had the following receipts during the year: Transfer from the general fund $100,000 State capital grant $75,000 Special assessment for capital improvements $300,000 What amount of revenues should Best County report in its capital projects fund at the end of the year? (Enter the amount in the following format: $XXX,XXX)

Respuesta :

jafransp

Answer:

$375,000

Explanation:

Best County should report in its capital projects fund at the end of the year -

State capital grant                                                         $75,000

Special assessment for capital improvements         $300,000

Revenues to be reported                                           $375,000

Transfer from the general fund is not a revenue during the year because general fund is not a special fund for the government. It uses to determine the cash inflows and outflows which are not special. Therefore, it is not added to current year's revenue.

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