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a. The treasurer of Tyler sends out property tax bills of $200,000; 1% is considered uncollectible b. Current property taxes of $176,000 and past-due taxes
a. The treasurer of Tyler sends out property tax bills of $200,000; 1% is considered uncollectible | |
b. Current property taxes of $176,000 and past-due taxes of $14,000 were collected. | |
c. A specifi c property tax bill ($1,000) is determined to be uncollectible. | |
d. Fees in the amount of $20,000 are collected for hunting licenses. | |
e. Other revenues in the amount of $200,000 are collected. | |
f. The payroll for salaries of $20,000 is vouchered for payment. | |
g. Playground equipment expected to cost $15,000 is ordered. | |
h. The playground equipment is received and has an actual cost of $14,000. | |
i. Tyler received equipment that had been ordered in the previous fiscal year. The actual cost was $9,500 | |
j. Supplies in the amount of $11,000 were ordered. By year-end, only $5,000 worth of these supplies has been received | |
The consumption method is used. | |
k. The note payable that was outstanding at June 30, 2011, becomes due and is paid. | |
l. Various expenditures are paid throughout the year totaling $348,040. | |
m. Supplies in the amount of $3,000 are on hand at year-end. | |
n. Assume that uncollected taxes on June 30, 2011, are past due. | |
o. Closing entries are made. | |
2. Prepare (Taller 4 ) a budgetary comparison statement for the Tyler general fund. |
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