Question

Required information [The following information applies to the questions displayed below.] The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: $1,943,000 372,000 397,000 62,000 Тахes Licenses and permits Intergovernmental revenue Miscellaneous revenues Total estimated revenues 2,774,000 Appropriations: General government Public safety 471,000 886,000 650,000 600,000 86,000 Public works Health and welfare Miscellaneous 2,693,000 Total appropriations Budgeted increase in fund balance 81,000

Answer 1

Answer:

Transaction	General Fund/ Governmental Activities	General Journal	Debit	Credit
1	General Fund	Estimated Revenues	$27,74,000
		Appropriations		$26,93,000
		Balance		$81,000
	Governmental Activities	No Journal entry required
2	General Fund	Encumbrances	$9,31,000
		Encumbrances Outstanding		$9,31,000
	Governmental Activities	No Journal entry required
3	General Fund	Taxes Receivable-Current	$20,05,000
		Allownaces for uncollectible current taxes		$65,000
		Revenues		$19,40,000
	Governmental Activities	Taxes Receivable-Current	$20,05,000
		Allownaces for uncollectible current taxes		$65,000
		General Revenues-Property Taxes		$19,40,000
4	General Fund	Cash	$15,91,000
		Taxes Receivable-Delinquent		$1,32,000
		Taxes Receivable-Current		$14,59,000
	Governmental Activities	No Journal entry required
5	General Fund	Expenditures	$17,50,100
		Vouchers Payable		$17,50,100
	Governmental Activities	Expenses-General Government	$4,11,000
		Expenses-Public Safety	$6,35,000
		Expenses-Public Works	$2,54,000
		Expenses-Health & Welfare	$4,39,000
		Expenses-Miscellaneous	$11,100
		Vouchers Payable		$17,50,100
6a	General Fund	Encumbrances Outstanding	$14,000
		Encumbrances		$14,000
6b	General Fund	Expenses-Public Safety	$14,470
		Vouchers Payable		$14,470
6c	Governmental Activities	No Journal entry required
7a	General Fund	Encumbrances Outstanding	$8,51,200
		Encumbrances		$8,51,200
7b	Record the various expenditure	General Government		$52,700
		Public Safety		$2,36,200
		Public Works		$3,60,000
		Health & Welfare		$1,30,600
		Miscellaneous		$71,000
7c	Governmental Activities	Expenses-General Government	$52,700
		Expenses-Public Safety	$2,36,200
		Expenses-Public Works	$3,60,000
		Expenses-Health & Welfare	$1,30,600
		Expenses-Miscellaneous	$71,000
		Vouchers Payable		$8,50,500
8	General Fund	Cash	$8,39,000
		Revenues		$8,39,000
	Governmental Activities	Cash	$8,39,000
		Programme Revenues-General Government		$3,73,000
		Programme Revenues-Public Safety		$4,00,000
		General Revenues-Misc.		$66,000
9	General Fund	Vouchers Payable	$25,05,000
		Cash		$25,05,000
	City of Evergreen
	General Fund
	Revenue Ledger
	Account Description	Est Revenues (Dr.) (Cr.)	Revenues (Cr.) (Dr.)	Balance (Dr.) (cr.)
	Taxes
	Budget	$19,43,000		$19,40,000
	Recorded Revenues		$19,43,000	$3,000
	Licenses & Permits
	Budget	$3,72,000		$3,72,000
	Recorded Revenues		$3,73,000	-$1,000
	Intergovernmental Revenue
	Budget	$3,97,000		$3,97,000
	Recorded Revenues		$4,00,000	-$3,000
	Misc. Revenue
	Budget	$62,000		$62,000
	Recorded Revenues		$66,000	-$4,000