Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,630. Encumbrances had been recorded

image text in transcribed
image text in transcribed
image text in transcribed
6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,630. Encumbrances had been recorded in the prior year for these items in the amount of $14,080. The amount chargeable to each year's appropriations should be charged to the Public Safety appropriation. 7. Invoices were received and approved for payment for items ordered in documents recorded as encumbrances in Transaction (2) of this problem. The following appropriations were affected. 8. Revenue other than taxes collected during the year consisted of licenses and permits, $381,800; intergovernmental revenue, $408,800; and $74,800 of miscellaneous revenues. For purposes of accounting for these revenues at the government-wide level, the intergovernmental revenues were operating grants and contributions for the Public Safety function. Miscellaneous revenues are not identifiable with any function and, therefore, are recorded as General Revenues at the government-wide level. 9. A transfer of $22,800 was made to the debt service fund for principal and interest payments. 10. Payments on Vouchers Payable totaled $2,513,000. Additional information follows: The General Fund Fund BalanceUnassigned account had a credit balance of $104,900 as of December 31,2022 ; no entries have been made in the Fund Balance-Unassigned account during 2023. 6. Invoices for all items ordered during the prior year were received and approved for payment in the amount of $14,630. Encumbrances had been recorded in the prior year for these items in the amount of $14,080. The amount chargeable to each year's appropriations should be charged to the Public Safety appropriation. 7. Invoices were received and approved for payment for items ordered in documents recorded as encumbrances in Transaction (2) of this problem. The following appropriations were affected. 8. Revenue other than taxes collected during the year consisted of licenses and permits, $381,800; intergovernmental revenue, $408,800; and $74,800 of miscellaneous revenues. For purposes of accounting for these revenues at the government-wide level, the intergovernmental revenues were operating grants and contributions for the Public Safety function. Miscellaneous revenues are not identifiable with any function and, therefore, are recorded as General Revenues at the government-wide level. 9. A transfer of $22,800 was made to the debt service fund for principal and interest payments. 10. Payments on Vouchers Payable totaled $2,513,000. Additional information follows: The General Fund Fund BalanceUnassigned account had a credit balance of $104,900 as of December 31,2022 ; no entries have been made in the Fund Balance-Unassigned account during 2023

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

Auditing IT Infrastructures For Compliance

Authors: Robert Johnson, Marty Weiss, Michael G. Solomon

3rd Edition

1284236609, 9781284236606

More Books

Students also viewed these Accounting questions

Question

2. What are the prospects for these occupations?

Answered: 1 week ago