1.Twin City, on January 2, 2021, levied citizens in Eastern Part of the City, property Taxes of $2 each for the construction of sidewalks, Tricyle pathway pavements. The Eastern Area has a population of 5,000 residents. Twin City established A Fund known as Twin City Eastern Sidewalks & Tricycle Pavement Fund. The General Fund of TWIN City is to collect the Money and transfer it to the managers of the Fund. The General Fund Estimates that 95% of residents will pay the levies; and there will be no charges for its services.

PLEASE ANSWER i.- BELOW.

i.The general Journal entries to record the Budgetary Account, using Estimated Revenues Receivable from Property Taxes, Appropriations, and Uncollectible Property Taxes Receivable.

ii.Prepare general journal entries to Twin City Eastern Sidewalks & Tricycle Pavement Fund.

2.Twin City Eastern Sidewalks & TriCity Pavement Fund, must have a Fund Balance of 10 % and Appropriations Account of 90% of its revenue received from General Fund

i.Prepare the general journal entries to establish budgetary accounts for the Eastern Sidewalks & TriCyle Pavements.

3.BC County Established in 2014 a Cafeteria for the use of its employees and the public. The following are the balances found in its operating accounts:

Assets- Long-term $4,000,000; Current Assets $2,000,000 Liabilities $500,000 and Fund Balance $5,000,000 unrestricted and $500,000 restricted.

Current operating activities are:

Revenues from meals $5,400,000

Revenues from special events 600,000

Expenses:

Cost of goods sold: $1,300,000

Expenses special events 200,000

Depreciation of Equipment 800,000

Property taxes 100,000

Wages & salaries 200,000

Additional Information:

Salaries for employees in December 2014 amounting to $25,000 has not been accrued.

Depreciation for delivery vehicle of $5,500 has not been taken.

i.Prepare in good form the Income, Expenditure and Change In Fund Balance for the ABC County.