To reverse the net investment in capital assets related to construction work in progress and recognize transfers in to Jrnl Desc offset transfers out in CSU fund 221. Year 2 Basis GAAP CSU fund 221 Year 2 CSU CSU Account Account Description Amount Account Account Description Prog NP Amount Fund Fund Capital-Construction 607031 221 $200,000 722004 Supplies and Services 221 07 881 $200,000 Contract 201001 Accounts Payable 221 ($180,000) 712101 Accounts Payable 221 90 881 ($180,000) Other Long-term liabilities, 263090 221 ($20,000) 712208 221 90 881 ($20,000) Liabilities noncurrent Accounting records derived from for recognizing the CWIP and CWIP To record CWIP and CWIP Retention Accrual. Retention Accruals. Manual JE CSU Account Account Description Prog NP Amount Fund Transfers to/from other 724004 221 13 881 $200,000 CSU campuses, net Supplies and other 722004 221 07 881 ($200,000) services GAAP to reverse the supplies and other services that Jrnl Desc are related to construction work in progress. CSU fund 221 Year 2 CSU CSU Account Account Description Amount Account Account Description Prog NP Amount Fund Fund Other liabilities, 263090 Long-term Liabilities 221 $40,000 712208 221 90 881 $40,000 noncurrent 250004 Other Current Liabilities 221 ($40,000) 712109 Other liabilities, current 221 90 881 ($40,000) To reclassify the retention payable as current liabilities (to be Accounting records derived from legal to reclassify retention payable as paid in full next year). current liabilities. CSU fund 501 Year 2 CSU CSU Account Account Description Amount Account Account Description Prog NP Amount Fund Fund Construction 110008 501 $200,000 711207 Capital assets, net 501 90 811 $200,000
Jrnl Desc To reverse the net investment in capital assets related to construction work in progress and recognize transfers in to offset transfers out in CSU fund 221. Year 2 Basis GAAP CSU fund 221 Year 2 Account Account Description CSU Fund Amount Account Account Description CSU Fund Prog NP Amount 607031 Capital-Construction Contract 221 $200,000 722004 Supplies and Services 221 07 881 $200,000 201001 Accounts Payable 221 ($180,000) 712101 Accounts Payable 221 90 881 ($180,000) 263090 Other Long-term Liabilities 221 ($20,000) 712208 liabilities, noncurrent 221 90 881 ($20,000) To record CWIP and CWIP Retention Accrual. Accounting records derived from for recognizing the CWIP and CWIP Retention Accruals. Manual JE Account Account Description CSU Fund Prog NP Amount 724004 Transfers to/from other CSU campuses, net 221 13 881 $200,000 722004 Supplies and other services 221 07 881 ($200,000) Jrnl Desc GAAP to reverse the supplies and other services that are related to construction work in progress. CSU fund 221 Year 2 Account Account Description CSU Fund Amount Account Account Description CSU Fund Prog NP Amount 263090 Long-term Liabilities 221 $40,000 712208 Other liabilities, noncurrent 221 90 881 $40,000 250004 Other Current Liabilities 221 ($40,000) 712109 Other liabilities, current 221 90 881 ($40,000) To reclassify the retention payable as current liabilities (to be paid in full next year). Accounting records derived from legal to reclassify retention payable as current liabilities. CSU fund 501 Year 2 Account Account Description CSU Fund Amount Account Account Description CSU Fund Prog NP Amount 110008 Construction 501 $200,000 711207 Capital assets, net 501 90 811 $200,000
ch_04.01.05_capital_assets_depreciation_and_amortization_final.docx