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1 0 ) Prepare entries in general journal form to record the following transactions in General Fund general ledger accounts for fiscal year 2 0
Prepare entries in general journal form to record the following transactions in General Fund general ledger accounts for fiscal year Use modified accrual accounting.
a The legal budget for the year provided for $ of estimated revenues and $ appropriations.
b Assume there are $ of purchase orders outstanding at the end of last year and that these will be honored in the current year. Prepare the entries to reestablish the encumbrance.
c Property taxes were levied in the amount of $ It is estimated that percent of the taxes will never be collected.
d Purchase orders were issued for equipment and supplies in the amount of $
e Supplies, relating to all of the prior year purchase orders $ were received along with invoices amounting to $
f Collections of current property taxes amounted to $ The uncollected taxes recorded as delinquent.
g It was estimated that $ in property taxes would be collected in the first days of and that $ would be collected in later periods.
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