Author Question: In the Vendor Center you will find a. Pay Employees, Pay Liabilities and Process Payroll Forms b. ... (Read 78 times)

jon_i · **on:** Jul 6, 2018

In the Vendor Center you will find
a. Pay Employees, Pay Liabilities and Process Payroll Forms
b. Create Invoices and Receive Payments
c. Enter Bills and Pay Bills
d. Record Deposits, Write Checks and Reconcile

Question 2

A bridge construction project, accounted for in a Capital Projects Fund, is in Year 2 of an anticipated three year construction period. In Year 1, costs of 300,000 were incurred. In Year 2, 1,530,000 of costs were incurred.

What entry would be necessary in the General Capital Assets accounts for Year 2?

dr cr

a. Capital outlay 1,530,000 Cash 1,530,000
b. Construction in progess 1,530,000 Cash 1,530,000
c. Construction in progress 1,530,000 Invested in capital assets, net of related debt 1,530,000
d. Construction in progress 1,830,000
Invested in capital assets, net of related debt 1,830,000
e. Capital outlay 1,830,000
Cash 1,830,000