9 A city orders a new computer for its General Fund at an anticipated cost of $88,600 Its actual cost when received is $91,880 Payment is subsequently made a prepared all required journal entries for both fund and government wide financial statements 4 Prepare journal entries for the City of Pudding s governmental funds to record the followingtransactions, first for fund financial statements and then for government wide financialstatements a A new truck for the sanitation department was ordered at a cost of $113,000 b The city print shop did $3,600 worth of work for the school system (but has not yet beenpaid c An $10 million bond was issued to build a new road d Cash of $193,000 is transferred from the General Fund to provide permanent financing fora municipal swimming pool that will be viewed as an Enterprise Fund e The truck ordered in (a) is received at an actual cost of $115,400 Payment is not made atthis time f Cash of $34,400 is transferred from the General Fund to the Capital Projects Fund g A state grant of 430,000 is received that must be spent to promote recycling h The first $6,000 of the state grant received in (g) is appropriately expended (2) Complete this question by entering your answers in the tabs below FUND FIN STMT Prepare journal entries for the City of Pudding's governmental funds to record the fund financial statements (Select the appropriate fund for each situation when required If no entry is required for a transaction event, select No journal entry required in the first account field ) Need Help to solve solutions Transaction General Journal Debit Credit a A new truck for the sanitation department was ordered at a cost of $113,000 a Record encumbrances outstanding b The city print shop did $3,600 worth of work for the school system (but has not yet been paid) b Record amount due to internal service fund c An $10 million bond was issued to build a new road c Record sale of bonds d Cash of $193,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund d Record authorization of transfer for construction e The truck ordered in (a) is received at an actual cost of $115,400 Payment is not made at this time e General Fund Record entry to remove encumbrance Record receipt of truck f Cash of $34,400 is transferred from the general fund to the capital projects fund f Record cash received from general fund to capital project fund Record transfer in to capital project fund g A state grant of $40,000 is received that must be spent to promote recycling g Record state grant received for promoting recycling h The first $6,000 of the state grant received in (g) is appropriately expended h Record cash received from the state grant Record the expenditure of the grant for recycling GOVT WIDE FIN STMT Prepare journal entries for the City of Pudding's governmental funds to record the government wide financial statements (Select the appropriate fund for each situation when required If no entry is required for a transaction event, select No journal entry required in the first account field ) Need Help to solve solutions Transaction Fund General Journal Debit Credit a A new truck for the sanitation department was ordered at a cost of $113,000 a Record encumbrances outstanding b The city print shop did $3,600 worth of work for the school system (but has not yet been paid) b Record amount due to internal service fund c An $10 million bond was issued to build a new road c Record sale of bonds d Cash of $193,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund d Governmental Activities Record authorization of transfer for construction Record payment of cash for construction e The truck ordered in (a) is received at an actual cost of $115,400 Payment is not made at this time e Record receipt of truck f Cash of $34,400 is transferred from the general fund to the capital projects fund f Record cash received from general fund to capital project fund g A state grant of $40,000 is received that must be spent to promote recycling g Record state grant received for promoting recycling h The first $6,000 of the state grant received in (g) is appropriately expended h Record cash received from the state grant Record the expenditure of the grant for recycling d Assume that new ambulance was received on December 31, 2017 Provide all necessary journal entries on that date (Select the appropriate fund for each situation when required If no entry is required for a transaction event, select No journal entry required in the first account field ) Need Help to solve solutions Transaction Fund General Journal Debit Credit 1 Received in the encumbrances outstanding and receipt of equipment 1 General fund Record encumbrances outstanding 2 Record receipt of equipment e Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long term debt (Select the appropriate fund for each situation when required If no entry is required for a transaction event, select No journal entry required in the first account field ) Need Help to solve solutions Transaction Fund Genral Journal Debit Credit 1 Received in the transfer of unrestricted fund 1 Record transfer of unrestricted fund 2 Record transfer of unrestricted fund f and g Need Help to solve solutions f What amount of revenue would be recognized for the period g What are the total expenditures f Total revenues g Total expenditures 5 h Following are descriptions of transactions and other financial events for the City of Tetris for the year ending December 2015 Not all transactions have been included here Only the General Fund formally records a budget No encumbrances were carried over from 2014 Paid salary for police officers $ 21,000 Received government grant to pay ambulance drivers 40,000 Estimated revenues 232,000 Received invoices for rent on equipment used by fire department during last four months of the year 3,000 Paid for newly constructed city hall 1,044,000 Made commitment to acquire ambulance 111,000 Received cash from bonds sold for construction purposes 300,000 Placed order for new sanitation truck 154,000 Paid salary to ambulance driversmoney derived from state government grant given for that purpose 24,000 Paid for supplies for school system 16,000 Made transfer from General Fund to eventually pay off a long term debt 33,000 Received but did not pay for new ambulance 120,000 Levied property tax receivables for 2015 City anticipates that 95 ($190,000) will be collected during the year and 5 will be uncollectible 200,000 Acquired and paid for new school bus 40,000 Received cash from business licenses and parking meters (not previously accrued) 14,000 Approved appropriations 225,000 The following questions are independent although each is based on the preceding information Assume that the government is preparing information for its fund financial statements a What is the balance in the Budgetary Fund Balance account for the budget for the year Is it a debit or credit d Assume that new ambulance was received on December 31, 2017 Provide all necessary journal entries on that date (If no entry is required for a transaction event, select No journal entry required in the first account field ) e Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long term debt (If no entry is required for a transaction event, select No journal entry required in the first account field ) f What amount of revenue would be recognized for the period g What are the total expenditures h What journal entry was prepared when the bonds were issued (If no entry is required for a transaction event, select No journal entry required in the first account field ) What journal entry or entries were prepared when the bonds were issued (Select the appropriate fund for each situation when required If no entry is required for a transaction event, select No journal entry required in the first account field ) Need Help to solve solutions Transaction Funds General Journal Debit Credit 1 Received in the amount of financing sources 1 Record the amount received of financing sources

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9. A city orders a new computer for its General Fund at an anticipated cost of $88,600. Its actual cost when received is $91,880. Payment

A city orders a new computer for its General Fund at an anticipated cost of $88,600. Its actual cost when received is $91,880. Payment is subsequently made.

a. prepared all required journal entries for both fund and government-wide financial statements.

Prepare journal entries for the City of Pudding?s governmental funds to record the followingtransactions, first for fund financial statements and then for government-wide financialstatements. a.A new truck for the sanitation department was ordered at a cost of $113,000. b.The city print shop did $3,600 worth of work for the school system (but has not yet beenpaid. c.An $10 million bond was issued to build a new road. d.Cash of $193,000 is transferred from the General Fund to provide permanent financing fora municipal swimming pool that will be viewed as an Enterprise Fund. e.The truck ordered in (a) is received at an actual cost of $115,400. Payment is not made atthis time. f.Cash of $34,400 is transferred from the General Fund to the Capital Projects Fund. g.A state grant of 430,000 is received that must be spent to promote recycling. h.The first $6,000 of the state grant received in (g) is appropriately expended. (2)

Complete this question by entering your answers in the tabs below.

FUND FIN STMT

Prepare journal entries for the City of Pudding's governmental funds to record the fund financial statements. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Need Help to solve solutions:

Transaction		General Journal	Debit	Credit
a. A new truck for the sanitation department was ordered at a cost of $113,000.
a.		Record encumbrances outstanding.




b. The city print shop did $3,600 worth of work for the school system (but has not yet been paid).
b.		Record amount due to internal service fund.




c. An $10 million bond was issued to build a new road.
c.		Record sale of bonds.




d. Cash of $193,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund.
d.		Record authorization of transfer for construction.




e. The truck ordered in (a) is received at an actual cost of $115,400. Payment is not made at this time.
e.	General Fund	Record entry to remove encumbrance.




		Record receipt of truck




f. Cash of $34,400 is transferred from the general fund to the capital projects fund.
f.		Record cash received from general fund to capital project fund.




		Record transfer in to capital project fund.




g. A state grant of $40,000 is received that must be spent to promote recycling.
g.		Record state grant received for promoting recycling.




h. The first $6,000 of the state grant received in (g) is appropriately expended.
h.		Record cash received from the state grant.




		Record the expenditure of the grant for recycling.

GOVT WIDE FIN STMT

Prepare journal entries for the City of Pudding's governmental funds to record the government-wide financial statements. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Need Help to solve solutions:

Transaction	Fund	General Journal	Debit	Credit
a. A new truck for the sanitation department was ordered at a cost of $113,000.
a.		Record encumbrances outstanding.




b. The city print shop did $3,600 worth of work for the school system (but has not yet been paid).
b.		Record amount due to internal service fund.




c. An $10 million bond was issued to build a new road.
c.		Record sale of bonds.




d. Cash of $193,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund.
d.	Governmental Activities	Record authorization of transfer for construction.




		Record payment of cash for construction.




e. The truck ordered in (a) is received at an actual cost of $115,400. Payment is not made at this time.
e.		Record receipt of truck




f. Cash of $34,400 is transferred from the general fund to the capital projects fund.
f.		Record cash received from general fund to capital project fund.




g. A state grant of $40,000 is received that must be spent to promote recycling.
g.		Record state grant received for promoting recycling.




h. The first $6,000 of the state grant received in (g) is appropriately expended.
h.		Record cash received from the state grant.




		Record the expenditure of the grant for recycling.

Assume that new ambulance was received on December 31, 2017. Provide all necessary journal entries on that date. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Need Help to solve solutions:

Transaction	Fund	General Journal	Debit	Credit
1. Received in the encumbrances outstanding and receipt of equipment.
1	General fund	Record encumbrances outstanding.



2		Record receipt of equipment.

Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long-term debt. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Need Help to solve solutions:

Transaction	Fund	Genral Journal	Debit	Credit
1. Received in the transfer of unrestricted fund
1		Record transfer of unrestricted fund.




2		Record transfer of unrestricted fund.

f and g

Need Help to solve solutions:

f. What amount of revenue would be recognized for the period? g. What are the total expenditures?


f.	Total revenues
g.	Total expenditures

Following are descriptions of transactions and other financial events for the City of Tetris for the year ending December 2015. Not all transactions have been included here. Only the General Fund formally records a budget. No encumbrances were carried over from 2014.


Paid salary for police officers	$	21,000
Received government grant to pay ambulance drivers		40,000
Estimated revenues		232,000
Received invoices for rent on equipment used by fire department during last four months of the year		3,000
Paid for newly constructed city hall		1,044,000
Made commitment to acquire ambulance		111,000
Received cash from bonds sold for construction purposes		300,000
Placed order for new sanitation truck		154,000
Paid salary to ambulance driversmoney derived from state government grant given for that purpose		24,000
Paid for supplies for school system		16,000
Made transfer from General Fund to eventually pay off a long-term debt		33,000
Received but did not pay for new ambulance		120,000
Levied property tax receivables for 2015. City anticipates that 95% ($190,000) will be collected during the year and 5% will be uncollectible		200,000
Acquired and paid for new school bus		40,000
Received cash from business licenses and parking meters (not previously accrued)		14,000
Approved appropriations		225,000

The following questions are independent although each is based on the preceding information. Assume that the government is preparing information for its fund financial statements.

a.	What is the balance in the Budgetary Fund Balance account for the budget for the year? Is it a debit or credit?

d.	Assume that new ambulance was received on December 31, 2017. Provide all necessary journal entries on that date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long-term debt. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

What amount of revenue would be recognized for the period?

g.	What are the total expenditures?

h.	What journal entry was prepared when the bonds were issued? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

What journal entry or entries were prepared when the bonds were issued? (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Need Help to solve solutions:

Transaction	Funds	General Journal	Debit	Credit
1. Received in the amount of financing sources.
1		Record the amount received of financing sources.