County of Hawaii Bond Redemption and Interest Debt Service Fund


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County of Hawaii Bond Redemption and Interest Debt Service Fund Trial Balance July 1, 20X5 Debit Credit Cash and Cash Equivalents            $15,374,722 Accrued Interest Payable                                             $332,964 Fund Balance 15,041,758 Total                                           $15,374,722           $15,374,722 The County had the following transactions in its Bond Redemption DSF from July 1, 20X5, through June 30, 20X6: 1. Paid accrued interest when due, July 18, 20X5 2. Received transfers of unassigned resources from the General Fund totaling $105,396,619. 3. Paid principal ($12,878,605)and interest ($9,776,065) on the bonds. 4. Purchased $7,300,000 of investments 5. An interest payment of $320,521 is due and payable on July 18, 20X6. a. Prepare the General Ledger journal entries required to record the preceding transactions and information for the Bond Redemption and Interest DSF of the County of Hawaii for the fiscal year ended June 30, 20X6. b. Prepare the required financial statements for this DSF for the 20X5-20X6 fiscal year. SilverRabbit
posted a question · Feb 25, 2016 at 11:58pm

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