Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Prepare worksheet ermes and post to the worksheet for the following them kerely each custment by the emer ved in the problem Pecord the

image text in transcribed
2. Prepare worksheet ermes and post to the worksheet for the following them kerely each custment by the emer ved in the problem Pecord the Serweryt 2020 balances of genera fred amnet and related accumulated depreciation account. The Cry of Monroe had the following balances (excluding emas Service und Cost Accumulated Depreciation 567.900, 332.000.000 Totals ominate the capital expendtures shown in the government funds Statement of Revenues, expendtures, and Changes in Fondances coreciation Expense loove mental activities for the year totaled $530,000 Eliminate the other financing sources from the sale of bonds by recording a liability for bonds payable and the related premium - As of January 1, 2020, the city of Monte had 2.000.000 in general obligation bonds outstanding Eminate the expenditures for bond principal Accrue interest in the amount of $325,000. (To bond issues were outstanding interest payments for both were lost made on lut 2020 The computation is as follows:611.200.000.000 - 4:123- Adjust for the interest accrued in the poor year government-wide statements, but recorded as an expenditure in the 2020 fund basis statements, $12,000,000 0.03-6/12 = $180,000 Amonte bond premium in the amount of $50.000 Maked for additional revenue accrual The only adjustments for property taxes to eliminate the current year deferral of property Adjust for the $21000 of property taxes that was deferred in 2019 and recognized as revenue in the 2020 fund-basieren Amadoteda policyn 2020 of allowing employees to sccuruiste comentated absence Make an adjustment accruing the expense of $42.000 Charge compensated absences Bring in the bounces of the internal service und balance sheet accounts. Again, use a single account for all capital assets and second account for all accumulated deareciation balances teoarte column of me worksheet to enter Service Fund entries No revenues from internet services were with external parties. Assume $3.200 of the $1200 Due from other pros in the Internal service accounts represents receivable from me Gene Fund and the remaining 50.000 is due to the enterprise fund iminate the $3200 ned recevables o leduce covermen und expenses by the net operating profit of internal service funds. As the amountsmat reduce general government expenses for the entire amount aminates that are between dements reported within governmental 2. Prepare worksheet ermes and post to the worksheet for the following them kerely each custment by the emer ved in the problem Pecord the Serweryt 2020 balances of genera fred amnet and related accumulated depreciation account. The Cry of Monroe had the following balances (excluding emas Service und Cost Accumulated Depreciation 567.900, 332.000.000 Totals ominate the capital expendtures shown in the government funds Statement of Revenues, expendtures, and Changes in Fondances coreciation Expense loove mental activities for the year totaled $530,000 Eliminate the other financing sources from the sale of bonds by recording a liability for bonds payable and the related premium - As of January 1, 2020, the city of Monte had 2.000.000 in general obligation bonds outstanding Eminate the expenditures for bond principal Accrue interest in the amount of $325,000. (To bond issues were outstanding interest payments for both were lost made on lut 2020 The computation is as follows:611.200.000.000 - 4:123- Adjust for the interest accrued in the poor year government-wide statements, but recorded as an expenditure in the 2020 fund basis statements, $12,000,000 0.03-6/12 = $180,000 Amonte bond premium in the amount of $50.000 Maked for additional revenue accrual The only adjustments for property taxes to eliminate the current year deferral of property Adjust for the $21000 of property taxes that was deferred in 2019 and recognized as revenue in the 2020 fund-basieren Amadoteda policyn 2020 of allowing employees to sccuruiste comentated absence Make an adjustment accruing the expense of $42.000 Charge compensated absences Bring in the bounces of the internal service und balance sheet accounts. Again, use a single account for all capital assets and second account for all accumulated deareciation balances teoarte column of me worksheet to enter Service Fund entries No revenues from internet services were with external parties. Assume $3.200 of the $1200 Due from other pros in the Internal service accounts represents receivable from me Gene Fund and the remaining 50.000 is due to the enterprise fund iminate the $3200 ned recevables o leduce covermen und expenses by the net operating profit of internal service funds. As the amountsmat reduce general government expenses for the entire amount aminates that are between dements reported within governmental

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contabilidad Para No Contadores

Authors: Wayne Label

2nd Edition

9587712986, 9789587712988

More Books

Students also viewed these Accounting questions

Question

Many different people can conduct performance appraisals.

Answered: 1 week ago