Homework Answers
The entry to record the receipt of the supplies should include a debit to:
a) Encumbrance outstanding of $7,000
Add Answer to:
Question 18 2.5pts Acity ordered supplies with an expected cost of $7,000 for the accounting department....
What is the journal entry required when a township orders office supplies expected to cost $...
What is the journal entry required when a township orders office supplies expected to cost $ 1000 Correct answer Debit encumbrance. $1000 Credit Reserved for encumbrance $ 1000 Actual question— what if the actual invoice is $ 997.25. What entry/tries must be made. (Government for not profit accounting)
The accounting department for Sea City Maryland maintains an appropriations ledger for its Beautification Department--supplies. The...
The accounting department for Sea City Maryland maintains an appropriations ledger for its Beautification Department--supplies. The ledger shows that the amount appropriated for supplies $85,000. The ledger also shows that three purchase orders were placed, PO A for $15,000, PO B for $21,000, and PO C for $27,000. The flowers ordered on PO A arrived along with an invoice of $15,000. The soil and other supplies ordered on PO B arrived, were inspected, and a voucher was approved and paid...
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...
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...
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...
please help me correct my mistakes Prepare journal entries for the City of Pudding's governmental funds...
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....
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this...
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this merchandise was received on September 5, 2009 On September 6, 2009, an invoice dated September 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. On September 10, 2009, $800 of the merchandise was returned to the seller. 4. Based on the above information, what would the journal entry for September 10, 2009 include? O...
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...
Preparation of appropriations ledger The following transactions and events that occurred in the village of Kowitt...
Preparation of appropriations ledger The following transactions and events that occurred in the village of Kowitt Gorge during the calendar year 2019: 1. The village commissioners adopted the following budget: Estimated revenues: Property taxes $1,850,000 All other revenues 300,000 Total revenues $2,150,000 Appropriations: All departments other than police $1,000,000 Police-salaries 600,000 Police-fringe benefits 450,000 Police-supplies 80,000 Total appropriations $2.130,000 2. The village received, in cash, property taxes of $1,840,000 and all other revenues of $295,000. 3. The village made cash...
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...
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...
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...
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...
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....
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this merchandise was received on September 5, 2009 On September 6, 2009, an invoice dated September 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. On September 10, 2009, $800 of the merchandise was returned to the seller. 4. Based on the above information, what would the journal entry for September 10, 2009 include? O...
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...
Preparation of appropriations ledger The following transactions and events that occurred in the village of Kowitt Gorge during the calendar year 2019: 1. The village commissioners adopted the following budget: Estimated revenues: Property taxes $1,850,000 All other revenues 300,000 Total revenues $2,150,000 Appropriations: All departments other than police $1,000,000 Police-salaries 600,000 Police-fringe benefits 450,000 Police-supplies 80,000 Total appropriations $2.130,000 2. The village received, in cash, property taxes of $1,840,000 and all other revenues of $295,000. 3. The village made cash...
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...
Most questions answered within 3 hours.
-
Week 8 forum SPHE461
The field of the Fitness Professional includes many
different titles, specialties, certifying...
asked 11 seconds ago -
1. In the short run, the marginal product of labor increases
then decreases because of what?...
asked 48 minutes ago -
A farmer wants to compare the tastiness and juiciness of
tomatoes grown with three amounts of...
asked 1 hour ago -
What is facilitated diffusion and how does it differ from
symport and antiport transportation? How do...
asked 2 hours ago -
if a firm producing 100 units at $5.00 each experience
an 80% experience curve, what will...
asked 2 hours ago -
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 5 hours ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 5 hours ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 6 hours ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 6 hours ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 8 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 8 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 9 hours ago