ZuoTi.Pro
Question

pald. -4-34. (Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved the follow

4-24 the year. Chapter 4 An Introduction to General and Special Revenue Funds 2. Collected $250,000 in general admissions fee
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

DATE ketzel Park special Revenue fund for year ended 31 dec. 2019 Revenues : Amount Amount 1. General admission fees 2. Big CKetzel Park special Revenue fund Durat Balance sheet Piossabile ban december 31, 2019 DATE Assests cauan Amount liabilitics,DATE ketzel Park special Revenue fund Budgetary comparision schedule for year ended dec. 31, 2019 origind Budget Actual final

s.no TRANSACTION DEBIT($) CREDIT($)
1 Cash 410000
genaral admission fees 250000
big cat zoo admission fees 160000
(collection of fees)
2. salaries 270000
cash 270000
(payment of salaries)
3. encrumbances 38000
budgetary fund reserved for encrumbances 38000
4. budgetary fund reserved for encrumbances 38000
to encrumbances 38000
.
5. cat food 68000
voucher payable 68000
6. voucher payble 68000
cash 68000
7. salaries 9000
accrued salaries 9000
8. supplies 37000
voucher payable 37000
9. budgetary balance fund 10000
cat food 10000
0 0
Add a comment
Know the answer?
Add Answer to:
pald. -4-34. (Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Journal entries for Special Revenue Fund transactions The Library Special Revenue Fund commenced calendar year 2019...

    Journal entries for Special Revenue Fund transactions The Library Special Revenue Fund commenced calendar year 2019 with a cash balance of $5, no liabilities, and a restricted fund balance of $5. Prepare journal entries to record these transactions in the Library Special Revenue Fund and, where appropriate, in the General Fund. (We suggest you post opening balances and the journal entries to general ledger T-accounts.) 1. The General Fund transferred $100 cash to the Library Special Revenue Fund to help...

  • I mainly need this last part "preparation of fund financial statements and schedules" thanks! Scenario and...

    I mainly need this last part "preparation of fund financial statements and schedules" thanks! Scenario and General Fund budgetary journal entries The scenario: Croton City maintains four governmental-type funds: a General Fund, a Library Special Revenue Fund, a Capital Projects Fund, and a Debt Service Fund. Croton City started its calendar year 2019 with the following General Fund balances (all numbers are in thousands of dollars) Debits Credits Cash Property taxes receivable Salaries payable Deferred property tax revenues Unassigned fund...

  • (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...

  • The Library Special Revenue Fund commenced calendar year 2019 with a cash balance of $5, no...

    The Library Special Revenue Fund commenced calendar year 2019 with a cash balance of $5, no liabilities, and a restricted fund balance of $5. Prepare journal entries to record these transactions in the Library Special Revenue Fund and, where appropriate, in the General Fund. (We suggest you post opening balances and the journal entries to general ledger T-accounts.) The General Fund transferred $100 cash to the Library Special Revenue Fund to help the library finance its activities for the year....

  • 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...

  • 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 $2,539,000 as follows: property taxes, $1,844,000; licenses and permits, $315,000; fines and forfeits, $215,000; and intergovernmental (state grants), $165,000. The budget approved appropriations of $2,496,000 as follows: General Government, $465,000; Public Safety, $1,530,000; Public Works, $315,000; Culture and Recreation, $143,000; and Miscellaneous, $43,000. Required a. & b. Prepare the journal entry (or entries), to...

  • Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1, 2020. The...

    Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1, 2020. The fund expenditures were to be financed by a special gasoline tax. Prepare journal entries to record the following transactions for the calendar year 2020. 1. Winter County adopted the following budget for the fund: Estimated revenues-gasoline taxes 855,000 Appropriations-maintenance salaries 745,000 90,000 Appropriations-maintenance supplies Budgeted increase in fund balance 20,000 2.The county collected gasoline taxes of $825.000. 3.The county paid maintenance salaries of $730,000.

  • The Johnson City’s legislative group approved a General Fund operating budget for the fiscal year ending...

    The Johnson City’s legislative group approved a General Fund operating budget for the fiscal year ending June 30, 2017. The budget provides for estimated revenues of $2,700,000 as follows: property taxes, $1,900,000; licenses and permits, $350,000; fines and forfeits, $250,000; and intergovernmental (state grants), $200,000. The budget approved appropriations of $2,650,000 as follows: General Government, $500,000; Public Safety, $1,600,000; Public Works, $350,000; Culture and Recreation, $150,000; and Miscellaneous, $50,000.    Required Prepare the journal entry (or entries), to record the...

  • The Town of Bedford Falls approved a General Fund operatingbudget 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 $2,700,000 as follows: property taxes, $1,900,000; licenses and permits, $350,000; fines and forfeits, $250,000; and intergovernmental (state grants), $200,000. The budget approved appropriations of $2,650,000 as follows: General Government, $500,000; Public Safety, $1,600,000; Public Works, $350,000; Culture and Recreation, $150,000; and Miscellaneous, $50,000.Requireda. & b. Prepare the journal entry (or entries), to record the...

  • 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 $2,861,000 as follows: property taxes, $1,956,000; licenses and permits, $385,000; fines and forfeits, $285,000; and intergovernmental (state grants), $235,000. The budget approved appropriations of $2,804,000 as follows: General Government, $535,000; Public Safety, $1,670,000; Public Works, $385,000; Culture and Recreation, $157,000; and Miscellaneous, $57,000. Additional Info: 1. Revenues were collected in cash amounting to $38,000...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT