Part B. During July 2016, the first month of the 2017 fiscal year, the Town of Willingdon issued the following purchase orders and contracts. |
General government |
$ |
800,000 |
Public safety |
400,000 |
|
Public works |
75,000 |
|
Health and welfare |
65,000 |
|
Miscellaneous |
25,000 |
|
Total purchase orders and contracts |
$ |
1,365,000 |
Required |
Prepare the general journal entry to record the issuance of the purchase orders and contracts. |
JOURNAL ENTRIES | ||
General Journal | DEBIT ($) | CREDIT ($) |
Encumbrances—2017 | 1,365,000.00 | |
Encumbrances Outstanding—2017 | 1,365,000.00 | |
( to record the issuance of the purchase orders and contracts) | ||
Part B. During July 2016, the first month of the 2017 fiscal year, the Town of...
During July, the first month of the fiscal year, the Town of Willingdon issued the following purchase orders and contracts. General government Public safety Public works Health and welfare Miscellaneous Total purchase orders and contracts $ 880,000 480,000 83,000 73,000 33,000 $1,549,000 a-2. Show entries in subsidiary ledger accounts. Account/Description Expenditures Balance Dr(Cr) Appropriation Cr(Dr) Balance Cr(Dr) General Government Public Safety Public Works Health and Welfare TOWN OF WILLINGDON Encumbrances Ledger Encumbrances Encumbrances Encumbrances Expenditures Increase Decrease Balance Dr Cr...
During July, the first month of the fiscal year, the Town of Willingdon Issued the following purchase orders and contracts. General government Public safety Public works Health and welfare Miscellaneous Total purchase orders and contracts $ 710,000 310,000 66,000 56,000 16,000 $1,158,000 Required a-1. Prepare the general Journal entry to record the Issuance of the purchase orders and contracts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $15,500,000 875,000 400,000 125,000 75,000 $16,975,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,125,000 6,050,000 1,600,000 1,000,000 125,000 $16,900,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $ 15,800,000 800,000 380,000 110,000 60,000 $17,150,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,200,000 6,080,000 1,630,000 1,030,000 140,000 $17,080,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year....
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscel1aneous revenues $15,600,000 850,000 390,000 120,000 70,000 $17,030,000 Total estimated revenues Appropriations: eneral government Public safety Public works Health and welfare Miscellaneous ş 8,150,000 6,060,000 1,610,000 1,010,000 130,000 Total appropriations $16,960,000 a-2. Show entries in the subsidiary ledger accounts TOWN OF WILLINGDON Revenues Ledger Year July 01 Taxes July 01 Intergovernmental Revenues...
The Town of Willingdon adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes $ 3,000,000 Intergovernmental revenues 1,000,000 Licenses and permits 400,000 Fines and forfeits 150,000 Miscellaneous revenues 100,000 Total estimated revenues $ 4,650,000 Appropriations: General government $ 1,000,000 Public safety 2,000,000 Public works 950,000 Health and welfare 850,000 Miscellaneous 50,000 Total appropriations $ 4,850,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of FY 2017. (If no entry...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $14,000,000 1,250,000 460,000 200,000 150,000 $16,060,000 $ 7,750,000 5,900,000 1,450,000 850,000 50,000 $16,080, eee Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
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Part A: Johnson City adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes $ 15,000,000 Intergovernmental revenues 1,000,000 Licenses and permits 400,000 Fines and forfeits 150,000 Miscellaneous revenues 100,000 Total estimated revenues $ 16,650,000 Appropriations: General government $ 8,000,000 Public safety 6,000,000 Public works 1,550,000 Health and welfare 950,000 Miscellaneous 100,000 Total appropriations $ 16,600,000 Required Prepare the general journal entries to record the adopted budget at the beginning of FY 2017
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...