Matching for General Fund Transactions [AICPA Adapted]
For each general fund transaction listed in items 1 through 12, select the appropriate recording for the transaction listed next to letters A through O. A letter may be selected once, more than once, or not at all.
| Transactions |
| Recording of Transactions |
1. | An interfund transfer out was made to | A. | Credit Revenues |
| the capital projects fund. | B. | Debit Expenditures |
2. | Approved purchase orders were issued | C. | Debit Encumbrances |
| for supplies. | D. | Debit Inventories |
3. | The above-mentioned supplies were | E. | Debit Interfund Services Provided and Used |
| received and the related invoices were | F. | Credit Budgetary Fund Balance—Unassigned |
| approved. | G. | Debit Appropriations Control |
4. | Salaries and wages were incurred. | H. | Credit Property Taxes Receivable—Current |
5. | Cash was transferred to establish an | I. | Credit Appropriations Control |
| internal service fund. | J. | Credit Residual Equity Transfer Out |
6. | The property tax levy was passed by the | K. | Debit Interfund Transfer Out |
| city council and tax bills were sent to | L. | Credit Interfund Transfer Out |
| property owners. | M. | Debit Estimated Revenues Control |
7. | Property taxes for the current year were | N. | Debit Budgetary Fund Balance—Unassigned |
| collected. | O. | Debit Computer Equipment |
8. | Appropriations were recorded on |
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| adoption of the budget. |
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9. | Estimated revenues were recorded on |
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| adoption of the budget. |
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10. | There was an excess of estimated inflows |
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| over estimated outflows. |
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11. | Invoices for computer equipment were |
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| received. |
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12. | Received billing from water and sewer |
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| fund (enterprise fund) for using city |
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| water and sewer. |
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