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In 2014,Canon City Signed a Contract in the Amount of $6,000,000

Question 41

Multiple Choice

In 2014,Canon City signed a contract in the amount of $6,000,000 for the construction of a new city hall.Expenditures were $4,000,000 in 2014 and $2,050,000 in 2015,which included a change to the original construction design in the amount of $50,000.What amount should be added to net capital assets in the governmental activities accounts in 2015?


A) $6,000,000
B) $6,050,000
C) $2,050,000
D) $2,000,000

Correct Answer:

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