ENTRIES FOR FUNDS USING THE CAPITAL ASSETS GROUP OF ACCOUNTS - 8671-SEP-2010
(Deleted 10/2020 and moved to 10537-10539)
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Accounting Event |
Budgetary/Legal Basis: Governmental Cost Funds, Bond Funds, Federal Funds, and some trust funds. GAAP: Governmental Funds |
Capital Assets Group of Accounts |
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1. Acquisition |
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1a. Purchase |
Dr. 9XXX Expenditure Account Cr. 3020 Claims Filed |
Dr. 23XX or 24XX Asset Account Cr.
5200 XXXX Investment in Capital Assets |
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1b. Purchase with Trade-In |
Dr. 9XXX Expenditure Account Cr. 3020 Claims Filed (net expenditure) |
Dr. 23XX or 24XX Asset Account Cr. 5200XXXX Investment in Capital Assets(full cash value of new asset) and Dr. 5200XXXX Investment in Capital Assets Cr. 23XX or 24XX Asset Account(recorded cost of property traded in) |
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2. Lease/ Installment Purchase |
Dr. 9XXX Expenditure Account Cr. 3020 Claims Filed |
Dr. 23XX or 24XX Asset Account Cr. 5200XXXX Investment in Capital Assets |
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3. Transfer |
No Entry |
Dr. 23XX or 24XXAsset Account Cr.5200XXX Investment in Capital Assets |
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4. Gift |
No Entry |
Dr. 23XX or 24XXAsset Account Cr.5200XXXX Investment in Capital Assets |
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5. Internally Build or Generate a. Accumulation of development costs until completed or in use |
Dr. 9XXX Expenditure Account Cr. 3020 Claims Filed (net expenditure) |
Dr. 2350 Construction Work in Progress or 2430 Internally Generated Intangible Asset in Progress Cr. 5200XXXX Investment in Capital Assets |
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b. Upon completion or at the time the asset is put in use, move accumulated costs from in progress account to the actual asset account |
No Entry |
Dr. 23XX or 24XX Asset Account Cr. 2350 Construction Work in Progress or 2430 Internally Generated Intangible Asset in Progress |
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B. Use |
No Entry |
No Entry |
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C. Disposition |
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1. Sale |
Dr. 1110 General Cash Cr. 8000 Revenue or Cr. 9000 Appropriation Expenditure(see SAM 8641) |
Dr. 5200XXXX Investment in Capital Assets Cr. 23XX or 24XX Asset Account |
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2. Trade-Ins |
See 1b. Purchase with Trade-In |
See 1b. Purchase with Trade-In |
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3. Transfer |
No Entry |
Dr. 5200XXXX Investment in Capital Assets Cr. 23XX or 24XX Asset Account |
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4. Lost, Stolen or Destroyed |
No Entry |
Dr. 5200XXXX investment in Capital Assets Cr. 23XX or 24XX Asset Account |