Question

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 for uniforms.

6.    The firearms were received, with an invoice for $330,000. The purchase order allowed shipment of 10% over the amount ordered, so the invoice was approved.

7.    The invoice for firearms was paid.

8.    The Frisco Otters won the World Series. To provide more funds for crowd control at the parade, the City increased the Public Safety salaries appropriation by $100,000.

please show journal entries!

Answer 1

Journal Entries as Follows:

S.No.	Particulars	Dr/Cr	Amount	Amount
1	Revenues-property taxes A/c	Dr	9,000,000
	Revenues-personal income taxes A/c	Dr	5,000,000
	Revenues-intergovernmental A/c	Dr	1,000,000
	Revenues-recreation fees A/c	Dr	600,000
	To General Fund A/c			15,600,000
	(Being Revenues transferred to General fund)
2	General Fund A/c	Dr	14,800,000
	To Public Safety Salaries A/c			7,000,000
	To Public Safety Supplies A/c			500,000
	To Public Work Salaries A/c			5,000,000
	To Park Salaries A/c			2,300,000
	(Being appropriation made for Salaries & Supplies)
3	General Fund A/c	Dr	1,300,000
	To Library fund A/c			100,000
	To Debt Service fund A/c			1,200,000
	(Being appropriation made for Library & Debt Service Fund)
4	Public Safety Supplies A/c	Dr	330,000
	To Cash/Bank A/c			330,000
	(Being firearms Purchased & paid)
5	General Fund A/c	Dr	100,000
	To Public Safety Salaries A/c			100,000
	(Being additional appropriation made for Public Safety Salaries towards crowd control at parade)