1. Reiver village is a growing community somewhere in the great state of Iowa and has adopted the following budget for its current fiscal year.

Reiver Village General Fund Operating Budget Current Fiscal Year

Estimated Revenues Property taxes $ 2,200,000 Charges for services 480,000 $ 2,680,000

Appropriations Administration $ 360,000 Public Safety 1,980,000 2,340,000

Budgeted Increase in Fund Balance $ 340,000

Reiver village also had the following operating transactions during the year.

1. Levied property taxes.

2. Placed orders for materials and supplies for: Administration 332,000 Public safety 1,520,000

3. Collected revenues of: Property taxes 2,200,000 Charges for services 462,000

4. Received items on order for: Administration 280,000 Public safety 1,108,000

5. Paid cash for items received for: Administration 290,000 Public safety 1,103,000

6. Received items on order for: Administration 46,000 Public safety 380,000

7. Paid cash for items received for: Administration 42,000 Public safety 372,000

8. Collected revenues of: Property taxes ---0--- Charges for services 28,000

For this problem, complete the following items.

1. Prepare the journal entries for Reiver village on a separate sheet of journal paper (including the budgetary entry).

2. Post those journal entries to the appropriate ledger accounts as provided in the following ledgers.

Reiver Village General Fund/Revenues Ledger Current Fiscal Year

Source: Property Taxes

Entry No.	Item	Estimated Revenue DR	Actual Revenue CR	Difference DR (CR)

Source: Charges for Services

Entry No.	Item	Estimated Revenue DR	Actual Revenue CR	Difference DR (CR)

Reiver Village General Fund/Appropriations Ledger Current Fiscal Year

Function: Administration

Entry No.	Item	Appropriation CR	Encumbrances DR CR		Expenditures	Available Appropriation CR

Function: Public Safety

Entry No.	Item	Appropriation CR	Encumbrances DR CR		Expenditures	Available Appropriation CR

GENERAL JOURNAL Page

Date		Description of entry	Post Ref	Debit		Credit