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Can you Do these please? the deadline is tomorrow $12,505,500 P3-5 (Budgetary accounting) Prepare journal entries to record the following transactions and events affecting the
Can you Do these please? the deadline is tomorrow
$12,505,500 P3-5 (Budgetary accounting) Prepare journal entries to record the following transactions and events affecting the General Fund of the Village of Kowitt Gorge during fiscal 2013. Chapter 3 . Budgetary Considerations in Governmental Accounting C 1. The annual budget was adopted as follows: Estimated Revenues Property taxes Fines and forfeits Intergovernmental $1,600,000 150,000 475,000 $2,225,000 Appropriations General government Public safety Streets $ 210,000 1,580,000 395,000 $2,185,000 2. Purchase orders were issued for supplies with the following estimated costs: General government Public safety Streets $ 210,000 1,450,000 395,000 $2,055,000 3. Revenues were received in cash as follows: Property taxes Fines and forfeits Intergovernmental $ 855,000 117,000 295,000 $1,267,000 4. Items on order were received and accepted, and vouchers were prepared, as follows. (Amounts shown as "Estimated are the purchase order amounts; amounts shown as Actual are the approved invoice amounts.) General government Public safety Streets Estimated $ 165,000 719,000 135,000 $1,019,000 Actual $ 163,500 720,100 134,000 $1,017,600 5. The Kowitt Gorge village council revised the budget, reducing the public safety appropriation by $1 9,000 and increasing the streets appropriation by a similar amount. 6. Additional revenues were received in cash as follows: Property taxes Fines and forfeits Intergovernmental $742,000 37,000 181,000 $960,000 7. Items on order were received and accepted, and vouchers were prepared, as follows: General government Public safety Streets Estimated $ 45,000 693,700 234,800 $973,500 Actual $ 45,000 691,250 235,350 $971,600 P3-6 (Revenues and appropriations subsidiary ledgers) Prepare the revenues and expenditures subsidiary ledgers for the 2013 Village of Kowitt Gorge transac- tions and events listed in P3-5. What are the balances for each individual source of revenues after the final transaction? What are the available appropriations for each function after the final transaction? (Journal entries and subsidiary ledgers) P3-7Step by Step Solution
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