JOURNAL ENTRIES FOR THE CAPITAL ASSETS GROUP OF ACCOUNTS - 8622-SEP-2010
(Section deleted 10/2020 and content moved to 8670.1)
A department which receives an appropriation from one governmental fund and purchases property from this appropriation will record the property in the Capital Assets Group of Accounts. Similarly, another department which receives appropriations from several governmental funds and purchases property from more than one of these funds will record all of the property in the Capital Assets Group of Accounts. These two situations are illustrated as follows:
Situation A: Department purchases property from one governmental fund.
|
Capital Assets Group of Accounts |
|
|
Dr. 2310 Land |
$50,000 |
|
Dr. 2321 Building |
$200,000 |
|
Dr. 2411 Computer Software – Amortizable |
$100,000 |
|
Cr. 5200.0001 Investment in Capital Assets – General Fund |
$350,000 |
Situation B: Department purchases property from more than one governmental fund.
|
Capital Assets Group of Accounts |
|
|
Dr. 2321 Building |
$140,000 |
|
Dr. 2341 Equipment |
$40,000 |
|
Dr. 2412 Land Use Rights – Amortizable |
$10,000 |
|
Cr. 5200.0001 Investment in Capital Assets – General Fund |
$150,000 |
|
Cr. 5200.0042 Investment in Capital Assets – St. Hwy Acct. |
$40,000 |