the entries are the same for the general fund vs the govt wide financial statements?.
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the entries are the same for the general fund vs the
govt wide financial statements?.
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then all the same entry transactions but for the Govt. Wide Fin. Stmt. Chei Prepare journal...
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
Chei 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 $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). C. An $11 million bond...
5 18. General Capital Assets 5 Make all recessary entries in the appropriate govermen al fund...
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...
for the first and second part to this question to record fund financial statements and government...
for the first and second part to this question to record fund
financial statements and government wide ,
we use these accounts for journal entries
allowance for uncollectible current taxes
bonds payable
cash
deferred revenues
encumbrances
encumbrances-equipment
encumbrences- warehouse
encumbrences outstanding
expenditure control- machinery and equip
fund balance - reserved for encumbrances
grant recievable
inventory supplies
machinery and equip
other financing sources- bond proceeds
other financing sources - transfers in
other financing uses - transfers out
revenues- property taxes
taxes...
The City of Williamsport maintains its books in order to prepare fund accounting statements and prepares...
The City of Williamsport maintains its books in order to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide financial statements. General fixed assets, as of the beginning of the year, which had not been recorded, were as follows: Land $45,500,000 Buildings 540,000,000 Improvements other than buildings 107,500,000 Equipment 175,000,000 Accumulated depreciation: capital assets 175,300,000 During the year, expenditures for capital outlays amounted to $12,350,000. Of that amount, $8,100,000 was for buildings; $1,500,000 was for improvements...
Prepare journal entries for a local government to record the following transactions, first for fund financial...
Prepare journal entries for a local government to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. The government sells $992,000 in bonds at face value to finance construction of a warehouse. b. A $1.14 million contract is signed for construction of the warehouse. The commitment is required if allowed. C. A $164,000 transfer of unrestricted funds was made for the eventual payment of the debt in (a). d. Equipment for the fire...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first...
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...
The City of Milltown maintains its books so as to prepare fund accounting statements and records...
The City of Milltown maintains its books so as to prepare fund accounting statements and records worksheet adjustments in order to prepare government-wide statements. You are to prepare, in journal form, worksheet adjustments for each of the following situations. General fixed assets as of the beginning of the year, which had not been recorded, were as follows: Land $ 7,820,000 Buildings 32,355,000 Improvements Other Than Buildings 14,690,000 Equipment 11,554,000 Accumulated Depreciation, Capital Assets 24,300,000 During...
CHAPTER 8- PROBLEMS: 1. The City of San Juan maintains its books so as to prepare fund accounting statements and pr...
CHAPTER 8- PROBLEMS: 1. The City of San Juan maintains its books so as to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide financial statements. Required: You are to prepare, in journal form, worksheet adjustments for each of the following situations. A. General fixed assets, as of the beginning of the year, which had not been recorded, were as follows: Land $ 60,000,000 542,000,000 245,000,000 85,000,000 248,400,000 Buildings Improvements other than buildings Equipment Accumulated depreciation,...
The City of Clear Lake signed a lease agreement with Mountainside Builders whereby Mountainside will construct...
The City of Clear Lake signed a lease agreement with Mountainside Builders whereby Mountainside will construct a new office building for city administrative use and lease it to the City for 30 years. The fair market value of the building is $12 million. The City has agreed to make an initial payment of $822,441 and annual payments in the same amount for the next 29 years. (This assumes a 6 percent discount rate.) The lease includes a funding clause, which...
Problem 1 (25P) years ago for $35M. At that time it MMB's MMB Corporation purchased an assembly l...
Problem 1 (25P) years ago for $35M. At that time it MMB's MMB Corporation purchased an assembly line 5 ye was estimated to have a service life of 10 years an officer proposed to replace the old line with a modern line expeo ted to last L. This line will provide $5M savings in O&M costs, increase seller of the new line is willing to $12M) The revenues by 2M) and have a15M salvage value. The sewhich is $12 accept...
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
Chei 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 $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). C. An $11 million bond...
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...
for the first and second part to this question to record fund
financial statements and government wide ,
we use these accounts for journal entries
allowance for uncollectible current taxes
bonds payable
cash
deferred revenues
encumbrances
encumbrances-equipment
encumbrences- warehouse
encumbrences outstanding
expenditure control- machinery and equip
fund balance - reserved for encumbrances
grant recievable
inventory supplies
machinery and equip
other financing sources- bond proceeds
other financing sources - transfers in
other financing uses - transfers out
revenues- property taxes
taxes...
Prepare journal entries for a local government to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. The government sells $992,000 in bonds at face value to finance construction of a warehouse. b. A $1.14 million contract is signed for construction of the warehouse. The commitment is required if allowed. C. A $164,000 transfer of unrestricted funds was made for the eventual payment of the debt in (a). d. Equipment for the fire...
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...
CHAPTER 8- PROBLEMS: 1. The City of San Juan maintains its books so as to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide financial statements. Required: You are to prepare, in journal form, worksheet adjustments for each of the following situations. A. General fixed assets, as of the beginning of the year, which had not been recorded, were as follows: Land $ 60,000,000 542,000,000 245,000,000 85,000,000 248,400,000 Buildings Improvements other than buildings Equipment Accumulated depreciation,...
Problem 1 (25P) years ago for $35M. At that time it MMB's MMB Corporation purchased an assembly line 5 ye was estimated to have a service life of 10 years an officer proposed to replace the old line with a modern line expeo ted to last L. This line will provide $5M savings in O&M costs, increase seller of the new line is willing to $12M) The revenues by 2M) and have a15M salvage value. The sewhich is $12 accept...
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