The City of Tampa has created a Capital Projects Fund to construct a new school. The following activities occurred during 2017: Issued $1,000,000,...

The City of Tampa has created a Capital Projects Fund to construct a new school. The following activities occurred during 2017:

• Issued $1,000,000, 10-year, 6% bonds at 102. Sent the premium to the debt service fund.

• Received a $200,000 grant from the state of Florida

• Signed a contract with Wilson Construction Company for $1,050,000.

• Received a progress bill for $400,000. Paid all but 5% which was retained. 

What amount was reported as REVENUE for 2017 by the Capital Projects Fund?

A. $0 B. $1,220,000 C. $1,200,000 D. $200,000 

What amount was reported as EXPENDITURES for 2017 by the Capital Projects Fund?

A. $420,000 B. $400,000 C. $380,000 D. $1,050,000 

What amount was reported as Total Fund Balance on a year-end Balance Sheet?

A. $0 B. $800,000 C. $170,000 D. $150,000