The City of South River budget for the fiscal year ended June 30, 2020, included an...
The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in the amount of $8,716,000. During the month of July 2020, the following transactions occurred ( in summary)
Purchase orders were issued in the amount of $553,000.
Of the $553,000 in purchase orders, $506,00 were filled, with invoices amounting to $496,000. Salaries, not encumbered, amounted to $312,000.
A budget appropriation reduction in the amount of $62,000 was approved by the city council.
Prepare an appropriations, expenditures, and encumbrances ledger for the police department for the month of July.
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The City of South River budget for the fiscal year ended June
30, 2020, included an...
The City of South River budget for the fiscal year ended June 30.2020. Included an appropriation...
The City of South River budget for the fiscal year ended June 30.2020. Included an appropriation for the police department in the amount of $8.712.000. During the month of July 2020, the following transactions occurred in summary: Purchase orders were issued in the amount of $545.000 Of the $545,000 in purchase orders, $502,000 were filled with involces amounting to $492,000. Salaries, not encumbered, amounted to $308.000. A budget appropriations reduction in the amount of $64.000 was approved by the city...
The City of South Dundee budget for the fiscal year ended June 30, 2017
The City of South Dundee budget for the fiscal year ended June 30, 2017 included an appropriation for the police department in the amount of $8,700,000. During the month of July 2017, the following transactions occurred in summary: Purchase orders were issued in the amount of $520,000 Of the $520,000 in purchase orders, $480.000 were filled, with invoices amounting to $478,000 Salaries, not encumbered, amounted to $287.000. A budget appropriations reduction in the amount of $50,000 was approved by the city...
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary...
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year’s appropriation. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: Taxes $ 1,943,000 Licenses and permits 372,000 Intergovernmental revenue 397,000 Miscellaneous revenues 62,000 Total estimated revenues 2,774,000 Appropriations: General government 471,000 Public safety 886,000...
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary...
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated revenues
2,774,000
Appropriations:
General government
471,000
Public safety
886,000...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous during 2013. Use encumbrances accounting Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department The department received an appropriation allocation of $100.000 (Dr. "Budgetary Fund Balance" to make the entry balance.) b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns and...
The Town of Riverside reported appropriations in the amount of $17,000,000 for its General Fund for...
The Town of Riverside reported appropriations in the amount of $17,000,000 for its General Fund for the fiscal year ended December 31, 2020. During that year, expenditures amounted to $16,200,000 related to current year purchase orders that have been filled). In addition, 5600,000 in encumbrances had been issued this year but not filled The amount that Riverside would report for expenditures (and encumbrances, if applicable) in its 2020 General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances (GAAP...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous" during 2013. Use encumbrances accounting. Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department: The department received an appropriation allocation of $100,000. (Dr. "Budgetary Fund Balance" to make the entry balance.) a b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns...
The Fire Department of a given city received an appropriation in the amount of $12,000,000 for...
The Fire Department of a given city received an appropriation in the amount of $12,000,000 for the fiscal year ended June 30, 2020. During the month ended July 31, 2020, the following transactions occurred: (a) purchase orders were issued in the amount of $1,200,000; (b) purchase orders, related to (a) above, were filled in the amount of $1,000,000; the related invoice amount was $985,000; invoices were paid in the amount of $900,000; (c) salaries were accrued and paid in the...
The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning...
The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,746,000 as follows: property taxes, $1,916,000; licenses and permits, $360,000; fines and forfeits $260,000; and intergovernmental (state grants), $210,000. The budget approved appropriations of $2,694,000 as follows: General Government, $510,000; Public Safety, $1,620,000; Public Works, $360,000; Culture and Recreation, $152,000; and Miscellaneous, $52,000 Required a. & b. Prepare the journal entry (or entries), to...
Exercise 17-8 During 2015, the City of Greenfield engaged in the following financial activities: The City...
Exercise 17-8 During 2015, the City of Greenfield engaged in the following financial activities: The City Council approved the budget for the general operating fund. The budget shows estimated revenues of $1,944,000 and appropriations for expenditures of $1,891,000. 1. Property tax assessments for 2015 were compiled and statements mailed to property owners. Assessments total $933,000. Past collection experience indicates that approximately 5% of assessed property taxes are delinquent or uncollectible during the year of billing. A low bid of $15,000...
The City of South River budget for the fiscal year ended June 30.2020. Included an appropriation for the police department in the amount of $8.712.000. During the month of July 2020, the following transactions occurred in summary: Purchase orders were issued in the amount of $545.000 Of the $545,000 in purchase orders, $502,000 were filled with involces amounting to $492,000. Salaries, not encumbered, amounted to $308.000. A budget appropriations reduction in the amount of $64.000 was approved by the city...
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated revenues
2,774,000
Appropriations:
General government
471,000
Public safety
886,000...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous during 2013. Use encumbrances accounting Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department The department received an appropriation allocation of $100.000 (Dr. "Budgetary Fund Balance" to make the entry balance.) b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns and...
The Town of Riverside reported appropriations in the amount of $17,000,000 for its General Fund for the fiscal year ended December 31, 2020. During that year, expenditures amounted to $16,200,000 related to current year purchase orders that have been filled). In addition, 5600,000 in encumbrances had been issued this year but not filled The amount that Riverside would report for expenditures (and encumbrances, if applicable) in its 2020 General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances (GAAP...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous" during 2013. Use encumbrances accounting. Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department: The department received an appropriation allocation of $100,000. (Dr. "Budgetary Fund Balance" to make the entry balance.) a b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns...
The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,746,000 as follows: property taxes, $1,916,000; licenses and permits, $360,000; fines and forfeits $260,000; and intergovernmental (state grants), $210,000. The budget approved appropriations of $2,694,000 as follows: General Government, $510,000; Public Safety, $1,620,000; Public Works, $360,000; Culture and Recreation, $152,000; and Miscellaneous, $52,000 Required a. & b. Prepare the journal entry (or entries), to...
Exercise 17-8 During 2015, the City of Greenfield engaged in the following financial activities: The City Council approved the budget for the general operating fund. The budget shows estimated revenues of $1,944,000 and appropriations for expenditures of $1,891,000. 1. Property tax assessments for 2015 were compiled and statements mailed to property owners. Assessments total $933,000. Past collection experience indicates that approximately 5% of assessed property taxes are delinquent or uncollectible during the year of billing. A low bid of $15,000...
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