The following information relates to Dane City during its fiscal year ended December 31, 20X2:
Inventory—1/1/X2 | $ | 40,000 | |
—12/31/X2 | 43,000 | ||
Encumbrances outstanding—1/1/X2 | 4,000 | ||
—12/31/X2 | 8,900 | ||
Purchase orders during 20X2 | 194,000 | ||
Amount credited to vouchers payable during 20X2 | 181,200 | ||
Required:
For items 1 through 10, determine the amounts based solely on the
preceding information.
1. What is the amount of 20X2 general fund transfers out?
general fund transfers out
2. How much should be reported in 20X2 as general fund liabilities
from entitlements for compensated absences?
general fund liabilities
3. What is the 20X2 assigned amount of the general fund
balance?
general fund balance
4. What is the 20X2 capital projects fund balance?
capital projects fund balance
5. What is the 20X2 fund balance on the special revenue fund for
tourist promotion?
special revenue fund
6. What is the amount of 20X2 debt service fund expenditures?
debt service fund expenditures
7. What amount should be included in the governmentwide financial
statements for the cost of long-term assets acquired in 20X2?
cost of long-term assets
8. What amount stemming from the 20X2 transactions and events
decreased the long-term debt liabilities reported in the
governmentwide financial statements?
amount of decrease
9. Using the purchases method, what is the amount of 20X2 supplies
expenditures?
supplies expenditures
10. What was the total amount of 20X2 supplies encumbrances?
supplies encumbrances
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State in Item no | Amount | ||
Part 1 | 3 | $ 105,500 | |
Part 2 | 4 | $ 18,000 | |
Part 3 | 5 | $83,000+$43,000 Ending Inventory | |
$ 126,000 | |||
Part 4 | 1 | $617,000-$365,300 | |
$ 251,700 | |||
Part 5 | 2 | $110,300-$82,000-$23,000 | |
$ 5,300 | |||
Part 6 | 3 | $ 105,500 | |
Part 7 | 1&2 | $365,300+$23,000 | |
$ 388,300 | |||
Part 8 | 3 | $ 97,000 | |
Part 9 | 6 | $ 181,200 | |
Part 10 | 6 | $ 194,000 |
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