Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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Prepare journal entries for each of the following transactions entered into by the City of Loveland....
Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Fund/ Governmental Transaction Activlies General Journal Debit Credit 1. The city received a donation of land that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5.200,000 and was...
Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund / Governmental Activties General Journal Debit Credit 1. The city received a donation of land that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,200,000 and...
I need help with this Just journal entry for government funds accounts used: No Journal Entry Required Accumulated Depreciation Appropriations Budgetary Fund Balance Buildings Capital Lease Obligations Payable Cash Construction Expenditures Construction Work in Progress Encumbrances Encumbrances Outstanding Estimated Revenues Expenditures—General Government Expenses—General Government Expenses—Public Safety Fund Balance—Assigned Fund Balance—Unassigned Gain on Sale of Machinery Interfund Transfers Out Land Loss on Sale of Machinery Machinery and Equipment Other Financing Sources—Capital Lease Agreements Other Financing Sources—Proceeds of Capital Asset Sale Other...
Can you please help me where I got wrong answers? Thank you!! E5-18 General Capital Assets [LO 5-2,5.4] Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. A car was leased for the mayor's use. The first payment was $1,000 and the present value of the remaining lease payments was $29,000. (Note: The initial...
5 18. General Capital Assets 5 Make all recessary entries in the appropriate govermen al fund 뜬eneral Journal and the govellnent wide gover nental activities general Journal for each ofthe following transactions entered into by the City of Loveland. . The city received a donation ofland that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,200,000 and was recorded on the donor's...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $105,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). c. An $15 million bond was issued to build a new road. d. Cash of $179,000 is transferred from...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. A new truck for the sanitation department was ordered at a cost of $113,000. The city print shop did $3,600 worth of work for the school system (but has not yet been paid). An $10 million bond was issued to build a new road. Cash of $193,000 is transferred from the general fund to...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. A new truck for the sanitation department was ordered at a cost of $113,000. The city print shop did $3,600 worth of work for the school system (but has not yet been paid). An $10 million bond was issued to build a new road. Cash of $193,000 is transferred from the general fund to...
please help me correct my mistakes Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $105,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). C. An $15 million bond was issued to build a new road. d....
Required information [The following information applies to the questions displayed below.] 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. 1. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: $1,943,000 372,000 397,000 62,000 Тахes Licenses and permits Intergovernmental revenue Miscellaneous revenues...