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2.. Rowan City applied for and received a...
can you post the journal entries and how you got them. thank you 2. Rowan City...
can you post the journal entries and how you got them. thank
you
2. Rowan City applied for and received a grant of $10,000 from the State to purchase computers for the public library. Record this transaction in the city's journals from the perspective of government-wide governmental activities and the perspective of the General Fund. For governmental activities: Date Account Name Debit Credit For the General Fund: Account Name Date Debit Credit 3. On the last day of the calendar...
The given is : Higgins city levied $ 5,000,000 of general fund property taxes for the...
The given is : Higgins city levied $ 5,000,000 of general fund
property taxes for the calendar year ending December 31,2019 with
an estimated uncollectible amount of $300,000. during 2019 and the
first two months of 2020, $4,500,000 of the levy is expected to be
collected, however $200,000 of the levy is not expected to be
collected until after February 2020. record the property tax
revenue that should be recognized for the calendar year end
December 2019. please show how...
can you show the entries and how you got them please. thank you Date Account Name...
can you show the entries and how you got them please.
thank you
Date Account Name Debit Credit 3. On the last day of the calendar year, the City of Cammieton borrowed $400,000 from the local bank as a short-term loan in anticipation of property tax collections in the month of January. The note is non-interest bearing, due in 30 days, and is discounted as a rate of 12% per year. Record this transaction from two perspectives: 1) from the...
can you please post the journal entries and how you got them. please and thank you...
can you please post the journal entries and how you got them.
please and thank you
UV L i g.cuu TV Tavci ulan January 24, 2020 al 10mgill. 1. Higgins City levied $5,000,000 of General Fund property taxes for the calendar year ending December 31, 2019, with an estimated uncollectible amount of $300,000. During 2019 and the first two months of 2020, $4,500,000 of the levy is expected to be collected; however, $200,000 of the levy is not expected to...
[Para. 4-a-10]Invoices for some of goods and services ordered in transaction 4-a-3 were received and vouchered...
[Para. 4-a-10]Invoices for some of goods and services ordered in transaction 4-a-3 were received and vouchered for later payment. (Select “Elimination” in the drop down [Transaction Description] menu in the Detail Journal): Actual Estimated General Government $ 395,940 $ 394,060 Public Safety 1,086,650 1,088,600 Public Works 922,300 927,620 Health and Welfare 661,200 663,600 Culture and Recreation 593,750 597,000 Miscellaneous 138,000 138,000 ...
The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each...
The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, the city estimated that it will require $2,500,000 to finance governmental activities for the remainder of the fiscal year. On that date, it had $770,000 of cash on hand and $830,000 of current liabilities. Collections for the remainder of...
Need help with the journal entry for both general fund and governmental activities not sure what...
Need help with the journal entry for both general fund and governmental activities not sure what to do with the vehicle 5. Invoices for some of the goods recorded as encumbrances in transaction 4-a-2 were received and vouchered for payment, as listed below. Related encumbrances were canceled in the amounts listed below Expenditures Encumbrances General Government $ 94,776 $ 94,752 Public Safety 175,406 175,620 Public Works 194,408 194,512 Culture and Recreation 108,187 108,150 ...
[Para. 4-a-7] During FY 2020, the City of Smithville received notification that the state government would...
[Para. 4-a-7] During FY 2020, the City of Smithville received notification that the state government would send $150,000 to it at the beginning of the next fiscal year. Based on the city’s definition of “available for use,” the city considers the funds available to use for Public Safety’s operating activities in the current reporting period. The budget for the current year included this amount as “Intergovernmental Revenue.” Required: Record this transaction as a receivable and revenue in the General Fund and...
the question just about 5a-15 to 5a-18, I know the answer about 5a-1 to 5a-14 Para....
the question just about 5a-15 to 5a-18, I know the answer about 5a-1 to 5a-14 Para. 5a-1] On the first day of the 2020 fiscal year (January 1, 2020), the bond issue was sold at 101. Cash in the face amount of the bonds, $7,500,000, was deposited in the City Hall Annex Construction Fund; the premium was deposited in the debt service fund, as required by state law. Required: Record these transactions in the City Hall Annex Construction Fund...
The City of Southern Pines maintains its books so as to prepare fund accounting statements and...
The City of Southern Pines maintains its books so as to prepare fund accounting statements and records worksheet adjustments in order to prepare government-wide statements. As such, the City's internal service fund, a motor pool fund, is included in the proprietary funds statements. 1. Balance sheet asset accounts include: Cash. $92.000; Investments, $135,400; Due from the General Fund, $16,300; Inventories. $353,000; and Capital Assets (net). $1,042,700. Liability accounts include: Accounts Payable, $54,500; Long-Term Advance from Enterprise Fund. $654.000. 2. The...
can you post the journal entries and how you got them. thank
you
2. Rowan City applied for and received a grant of $10,000 from the State to purchase computers for the public library. Record this transaction in the city's journals from the perspective of government-wide governmental activities and the perspective of the General Fund. For governmental activities: Date Account Name Debit Credit For the General Fund: Account Name Date Debit Credit 3. On the last day of the calendar...
The given is : Higgins city levied $ 5,000,000 of general fund
property taxes for the calendar year ending December 31,2019 with
an estimated uncollectible amount of $300,000. during 2019 and the
first two months of 2020, $4,500,000 of the levy is expected to be
collected, however $200,000 of the levy is not expected to be
collected until after February 2020. record the property tax
revenue that should be recognized for the calendar year end
December 2019. please show how...
can you show the entries and how you got them please.
thank you
Date Account Name Debit Credit 3. On the last day of the calendar year, the City of Cammieton borrowed $400,000 from the local bank as a short-term loan in anticipation of property tax collections in the month of January. The note is non-interest bearing, due in 30 days, and is discounted as a rate of 12% per year. Record this transaction from two perspectives: 1) from the...
can you please post the journal entries and how you got them.
please and thank you
UV L i g.cuu TV Tavci ulan January 24, 2020 al 10mgill. 1. Higgins City levied $5,000,000 of General Fund property taxes for the calendar year ending December 31, 2019, with an estimated uncollectible amount of $300,000. During 2019 and the first two months of 2020, $4,500,000 of the levy is expected to be collected; however, $200,000 of the levy is not expected to...
The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, the city estimated that it will require $2,500,000 to finance governmental activities for the remainder of the fiscal year. On that date, it had $770,000 of cash on hand and $830,000 of current liabilities. Collections for the remainder of...
The City of Southern Pines maintains its books so as to prepare fund accounting statements and records worksheet adjustments in order to prepare government-wide statements. As such, the City's internal service fund, a motor pool fund, is included in the proprietary funds statements. 1. Balance sheet asset accounts include: Cash. $92.000; Investments, $135,400; Due from the General Fund, $16,300; Inventories. $353,000; and Capital Assets (net). $1,042,700. Liability accounts include: Accounts Payable, $54,500; Long-Term Advance from Enterprise Fund. $654.000. 2. The...
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