Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Prepare journal entries for the city of Dixon's governmental funds to record the following transactions, first for the fund financial statements and then for

4. Prepare journal entries for the city of Dixon's governmental funds to record the following transactions, first for the fund financial statements and then for government-wide financial statements. NOTE: some transactions do not need to be recorded on either the Fund Financial Statements or the Government-wide Financial Statements. Make sure you include the fund name for fund financial statement journal entries. I completed transaction "a" as an example for how I would like the transactions to be formatted.
a. Ordered new truck for sanitation department-cost 87,000
b. Printing work charged by city print shop for school system 1,500
c. Bond issued to build new road 10,000
d. Cash transferred from General Fund to Enterprise Fund for pool 152,000
e. Truck ordered in (a.) received at actual cost (not yet paid) 89,500
f. Cash transferred from General Fund to Capital Projects fund 34,000
g. State grant received to be spent to promote recycling 40,000
h. Cash received from State (g.) is expended appropriately 4,500
City of Dixon
Fund Financial Statements

General Journal

CITY OF PUDDING
Government-Wide Financial Statements
General Journal

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_2

Step: 3

blur-text-image_3

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

Management Accounting

Authors: John Burns, Martin Quinn, Liz Warren, João Oliveira

1st Edition

0077121619, 978-0077121617

More Books

Students also viewed these Accounting questions

Question

Find trigonometric notation. 5i

Answered: 1 week ago

Question

1. Discuss the main incentives for individual employees.pg 87

Answered: 1 week ago