a developer agreed to pay for water and wastewater infrastructure associated wit

Question

a developer agreed to pay for water and wastewater infrastructure associated with one of his devlopement projects. Once the work is completed and the new lines are connected, they will become part of the city's enterprise fund capital assets. The entry that should be recorded by the enterprise fund when the project is complete would be a) a debit to capital assets and credit to transfew in b) a debit to capital assets and a credit to net investment in capital assets c) a debit to capital assets and a credit to capital contribution D) a debit to capital assets and a credit to nonoperating revenues

Explanation / Answer

Ans) The entry that should be recorded by the enterprise fund when the project is complete would be

option (C) a debit to capital assets and a credit to capital contribution

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