Transaction | Fund / Governmental Activitties | General Journal | Debit | Credit |
1 | General Fund | No entry as there is no flow offinancial resources | ||
Governmental Activities | Land | 5,200,000 | ||
Program Revenue | 5,200,000 | |||
2 | General Fund | Cash | 6,000 | |
Sale of Capital Asset | 6,000 | |||
Governmental Activities | Cash | 6,000 | ||
Accumulated Depreciation | 28,700 | |||
Loss on Sale of Machinery | 400 | |||
Machinery & Equipment | 35,100 | |||
3a | General Fund | Expenditure - General Government | 30,000 | |
Cash | 1,000 | |||
Other Financial Sources | 29,000 | |||
3b | Governmental Activities | Machinery & Equipment | 30,000 | |
Cash | 1,000 | |||
Lease Payable | 29,000 | |||
4a | Capital Project Fund | Cash | 720,000 | |
Revenue | 720,000 | |||
4b | Construction Expenditure | 1,176,000 | ||
Cash | 1,176,000 | |||
4c | Governmental Activities | Cash | 720,000 | |
Program Revenues - Public Safety - Capital Grants & Contributions | 720,000 | |||
4d | Construction Work in Progress | 1,176,000 | ||
Cash | 1,176,000 | |||
4e | Building | 9,000,000 | ||
Construction Work in Progress | 9,000,000 | |||
5 | Unable to answer | |||
6 | General Fund | No entry as there is no flow of financial resources | ||
Governmental Activities | Expenses - General Government | 1,56,000 | ||
Machinery & Equipment | 1,56,000 | |||
Prepare journal entries for each of the following transactions entered into by the City of Loveland....
Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund / Governmental Activties General Journal Debit Credit 1. The city received a donation of land 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...
Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund / Governmental Activties General Journal Debit Credit 1. The city received a donation of land 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...
I need help with this Just journal entry for government funds accounts used: No Journal Entry Required Accumulated Depreciation Appropriations Budgetary Fund Balance Buildings Capital Lease Obligations Payable Cash Construction Expenditures Construction Work in Progress Encumbrances Encumbrances Outstanding Estimated Revenues Expenditures—General Government Expenses—General Government Expenses—Public Safety Fund Balance—Assigned Fund Balance—Unassigned Gain on Sale of Machinery Interfund Transfers Out Land Loss on Sale of Machinery Machinery and Equipment Other Financing Sources—Capital Lease Agreements Other Financing Sources—Proceeds of Capital Asset Sale Other...
Can you please help me where I got wrong answers? Thank you!! E5-18 General Capital Assets [LO 5-2,5.4] Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. A car was leased for the mayor's use. The first payment was $1,000 and the present value of the remaining lease payments was $29,000. (Note: The initial...
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...
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...
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 new truck for the sanitation department was ordered at a cost of $113,000. The city print shop did $3,600 worth of work for the school system (but has not yet been paid). An $10 million bond was issued to build a new road. Cash of $193,000 is transferred from the general fund to...
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 new truck for the sanitation department was ordered at a cost of $113,000. The city print shop did $3,600 worth of work for the school system (but has not yet been paid). An $10 million bond was issued to build a new road. Cash of $193,000 is transferred from the general fund to...
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....
can you post the journal entries and how you got them. thank you 2. Rowan City applied for and received a grant of $10,000 from the State to purchase computers for the public library. Record this transaction in the city's journals from the perspective of government-wide governmental activities and the perspective of the General Fund. For governmental activities: Date Account Name Debit Credit For the General Fund: Account Name Date Debit Credit 3. On the last day of the calendar...