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A state whose fiscal year ends June 30, 2013, had the following transaction and events. For each item compute how much total expenditures the state

A state whose fiscal year ends June 30, 2013, had the following transaction and events. For each item compute how much total expenditures the state will report in the General Fund Statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2013. Also, state the accounting principle that governs calculation of the amount to be accrued at the end of the accounting period.

1. During the year, the state paid salaried of $3,600,000. Its employees also earned $150,000 during the period June 23-30, but the payroll for that period will be paid on July 12.

2. The state permits its employees to accumulate up to 30 days of vacation leave. The employees are entitled to be paid on termination or retirement for any unused vacation days. At the beginning of the fiscal year, the states liability for unused vacation days was $720,000. By the end of the fiscal year, the vacation pay liability had increased to $810,000. The latter amount includes $16,000 owed to employees who retired as of June 30, 2013 with unused vacation pay. That amount will be paid by July 12, 2013.

3. At the beginning of the fiscal year, the states actuary advised the budget director that a total of $430,000 would have to be paid into a Retiree Health Care Trust Fund if the state were toe contribute to the fund based on the benefits earned by its active employees during fiscal 2013. The adopted budget, however, contained an appropriation for $115,000, the amount of benefits the state expected to pay on behalf of retired employees. During the year, actual payments on behalf of retired employee were $96,000. An additional $12,000 was scheduled to be paid in July 2013 for health care benefits claimed in June 2013.

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