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And this one please? P3-7 (Journal entries and subsidiary ledgers) The events and transactions listed below took place in the General Fund of Lawton City
And this one please?
P3-7 (Journal entries and subsidiary ledgers) The events and transactions listed below took place in the General Fund of Lawton City during fis- cal 2013. Prepare the necessary general journal entries. 1. The General Fund annual operating budget was adopted as follows: Estimated Revenues Property taxes Charges for services Miscellaneous $2,550,000 400,000 175,000 $3,125,000 Appropriations Administration Public safety Roads and bridges $ 465,000 1,860,000 930,000 $3,255,000 2. Purchase orders were issued for supplies with the following estimated costs: Administration Public safety Roads and bridges $ 465,000 1,860,000 930,000 $3,255,000 3. Revenues were received in cash as follows: Property taxes Charges for services Miscellaneous $2,005,000 248,000 65,000 $2,318,000 4. Some of the supplies ordered in transaction 2 were received and accepted, and vouchers were approved for payment, as follows. (Amounts shown in the "Estimated"column are the purchase order amounts; amounts shown in the Actual column are the approved invoice amounts.) Administration Public safety Roads and bridges Estimated $ 265,000 902,000 776,000 $1,943,000 Actual $ 263,500 902,000 776,000 $1,941,500 5. Additional revenues were received in cash as follows: Property taxes Charges for services Miscellaneous $535,000 155,000 111,000 $801,000 Chapter 3 Budgetary Considerations in Governmental Accounting 6. Additional purchase orders from transaction 2 were fulfilled with the following estimated and actual costs: Administration Public safety Roads and bridges Estimated $ 200,000 948,000 154,000 $1,302,000 Actual $ 201,000 947,000 153,500 $1,301,500
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