In 2017,Sunrise City signed a contract in the amount of $8,000,000 for the construction of a new city hall.Expenditures were $4,000,000 in 2017 and $2,050,000 in 2018,which included a change to the original construction design in the amount of $50,000.What amount should be added to capital assets in the governmental activities accounts in 2018?

Question

Quizplus · Accepted Answer

The amount to be added to capital assets in 2018 is the total expenditure for that year, which is $2,050,000, including the change in construction design.

In 2017,Sunrise City Signed a Contract in the Amount of $8,000,000