I mainly need this last part
"preparation of fund financial statements and schedules"
thanks!
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I mainly need this last part
"preparation of fund financial statements and schedules"
thanks!
Scenario and...
Frisco City adopted the following General Fund budget for 2019. Revenues-property taxes
Frisco City adopted the following General Fund budget for 2019. Revenues-property taxes $9,000,000 Revenues-personal income taxes 5,000,000 Revenues-intergovernmental 1,000,000 Revenues-recreation fees 600,000 Appropriations Public safety salaries 7,000,000 Public safety supplies 500,000 Public works salaries 5,000,000 Parks salaries 2,300,000 Transfer to Library Fund 100,000 Transfer to Debt Service Fund 1,200,000 5. Frisco’s Public Safety Dept. placed two purchase orders against its supplies appropriation, one for $300,000 for firearms and one for $150,000...
Journal entries for General Fund financial transactions for Croton City Prepare journal entries, as appropriate, to...
Journal entries for General Fund financial transactions for Croton City Prepare journal entries, as appropriate, to record these transactions. (We suggest you post the journal entries to general ledger T-accounts.) Note: The Croton City continuing problem is introduced in Chapter 3 on page 3-32. You should review the scenario in Chapter 3 before preparing the journal entries for the General Fund in this chapter. 1. Of the $800 in property taxes receivable at January 1, $780 was collected in cash....
Prepare journal entries, as appropriate, to record these transactions. (We suggest you post the journal entries...
Prepare journal entries, as appropriate, to record these
transactions. (We suggest you post the journal entries to general
ledger T-accounts.) Note: The Croton City continuing problem is
introduced in Chapter 3 on page 3-32. You should review the
scenario in Chapter 3 before preparing the journal entries for the
General Fund in this chapter.
Public safety $350
Public works 250
Parks 100
Of the $800 in property taxes receivable at January 1, $780 was
collected in cash. The remaining $20...
pald. -4-34. (Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved...
pald. -4-34. (Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2019: $260,000 140,000 $400,000 Estimated Revenues General admissions fees Admissions fees (big cat zoo). Appropriations Parks and recreation salaries. Parks and recreation supplies Parks and recreation cat food. Budgeted Increase in Fund Balance.. $280,000 40,000 60,000 380,000 $ 20,000 Transactions and events for calendar year 2019 were as follows: 1. Recorded the approved budget for the year. 4-24...
The following General Fund information is available for the preparation of the financial statements for the...
The following General Fund information is available for the preparation of the financial statements for the City year ended September 30, 2020: $27,300,000 13,433,000 1,442,000 1,840,000 2,485,000 771,000 Revenues: Property taxes Sales taxes Fees and fines Licenses and permits Intergovernmental Investment earnings Expenditures: Current: General government Public safety Public works Health and sanitation Culture and recreation Transfer to capital project fund Special item-proceeds from sale of land Fund balance, October 1, 2019 11,753,000 24,473,000 6,241,000 1,193,000 2,185,000 1,149,000 853,000 1,841,000...
Statement preparation-General Fund Using the following data, prepare a statement of revenues, expenditures, and changes in...
Statement preparation-General Fund Using the following data, prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of Jasmin City for the year ended December 31, 2019. Miscellaneous revenues $ 180,000 Licenses and permits revenues 1,000,000 Education program expenditures 2,000,000 Public safety expenditures 4,000,000 Transfers to other funds 1,500,000 Property tax revenues 7,000,000 State and federal grants 2,000,000 Parks program expenditures 750,000 Highways program expenditures 900,000 Transfers from other funds 700,000 Fund balance at beginning...
Journal entries, financial statements, and closing entries for a Capital Projects Fund The following transactions occurred...
Journal entries, financial statements, and closing entries for a Capital Projects Fund The following transactions occurred during the fiscal year July 1, 2018 to June 30, 2019: 1. The City of Spainville approved the construction of a city hall complex for a total cost of $120,000,000. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. The buildings will be financed by a federal expenditure driven grant of $25,000,000 and...
(Budgetary transactions and events) Prepare journal entries to record the following transactions and events that occurred...
(Budgetary transactions and events) Prepare journal entries to record the following transactions and events that occurred in Marilyn County during the calendar year 2019. 1. The legislature adopted the following budget: Estimated revenues and other sources: Property taxes $1,740,000 Sales taxes 1,000,000 Use of fund balance 10,000 Total $2,750,000 Appropriations: General government – salaries $420,000 General government – supplies 30,000 Parks department – salaries 2,000,000 Parks department – plants and supplies 300,000 Total $2,750,000 2. Parks department placed PO...
"4–27. Operating Transactions and Financial Statements. (LO4-1 through LO4-3) The City of Castleton’s General Fund had...
"4–27. Operating Transactions and Financial Statements. (LO4-1 through LO4-3) The City of Castleton’s General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Debits Credits Cash $276,120 Taxes Receivable—Delinquent 183,000 Allowance for Uncollectible Delinquent Taxes $21,960 Interest and Penalties Receivable 6,280 Allowance for Uncollectible Interest and Penalties 1,160 Inventory of Supplies 6,100 Vouchers Payable 48,500 Due to Federal Government 29,490 Deferred Inflows of Resources—Unavailable Revenues 166,160 Fund Balance—Nonspendable—Inventory of Supplies ...
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...
Journal entries for General Fund financial transactions for Croton City Prepare journal entries, as appropriate, to record these transactions. (We suggest you post the journal entries to general ledger T-accounts.) Note: The Croton City continuing problem is introduced in Chapter 3 on page 3-32. You should review the scenario in Chapter 3 before preparing the journal entries for the General Fund in this chapter. 1. Of the $800 in property taxes receivable at January 1, $780 was collected in cash....
Prepare journal entries, as appropriate, to record these
transactions. (We suggest you post the journal entries to general
ledger T-accounts.) Note: The Croton City continuing problem is
introduced in Chapter 3 on page 3-32. You should review the
scenario in Chapter 3 before preparing the journal entries for the
General Fund in this chapter.
Public safety $350
Public works 250
Parks 100
Of the $800 in property taxes receivable at January 1, $780 was
collected in cash. The remaining $20...
pald. -4-34. (Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2019: $260,000 140,000 $400,000 Estimated Revenues General admissions fees Admissions fees (big cat zoo). Appropriations Parks and recreation salaries. Parks and recreation supplies Parks and recreation cat food. Budgeted Increase in Fund Balance.. $280,000 40,000 60,000 380,000 $ 20,000 Transactions and events for calendar year 2019 were as follows: 1. Recorded the approved budget for the year. 4-24...
The following General Fund information is available for the preparation of the financial statements for the City year ended September 30, 2020: $27,300,000 13,433,000 1,442,000 1,840,000 2,485,000 771,000 Revenues: Property taxes Sales taxes Fees and fines Licenses and permits Intergovernmental Investment earnings Expenditures: Current: General government Public safety Public works Health and sanitation Culture and recreation Transfer to capital project fund Special item-proceeds from sale of land Fund balance, October 1, 2019 11,753,000 24,473,000 6,241,000 1,193,000 2,185,000 1,149,000 853,000 1,841,000...
Statement preparation-General Fund Using the following data, prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of Jasmin City for the year ended December 31, 2019. Miscellaneous revenues $ 180,000 Licenses and permits revenues 1,000,000 Education program expenditures 2,000,000 Public safety expenditures 4,000,000 Transfers to other funds 1,500,000 Property tax revenues 7,000,000 State and federal grants 2,000,000 Parks program expenditures 750,000 Highways program expenditures 900,000 Transfers from other funds 700,000 Fund balance at beginning...
Journal entries, financial statements, and closing entries for a Capital Projects Fund The following transactions occurred during the fiscal year July 1, 2018 to June 30, 2019: 1. The City of Spainville approved the construction of a city hall complex for a total cost of $120,000,000. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. The buildings will be financed by a federal expenditure driven grant of $25,000,000 and...
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...
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