Chapter 2 Opening the Books The City of Smithville has just implemented a new computerized accounting system, which provides les for General Journal entries and posting to appropriate General Ledger] subsidiary ledger accounts. Accounts are provided for both budgetary and actual operating statement accounts and balance sheet accounts for the General Fund, as well as for governmental activities at the governmentwide level. Accounts are also provided as appropriate for all other funds used by the City of Smithville. As the City's new accountant (lucky you!), it is your job to enter the City's initial accounting information as of December 31, 2004, and prepare to commence normal operation of the new accounting system effective January 1, 2005. Required at. Open the City of Smithville software by choosing [Start]- [Programs]-[City of Smithville]. Click [File], then either [Open] to open an existing project or [New] to create a new project. If creating a new project, type in your last name as lename or other filename as you desire. You can also specify a drive and folder at this time. When the [Create New Project] window appears, type in your rst name, middle initial, and last name and click \"Create and Open New Project.\" If it is not already displayed, select [General Fund] in the Current Accounting Entity window and the [Accounts] View. Verify that the following accounts are listed [Note: In addition to the accounts listed below you will see detail accounts that will be used in subsequent chapters for achieving budgetary control and recording revenues and expenditures detail .] Select the [Journal] view and click the arrow to the right of the box labeled \"Account #lAccount Description.\" You should see all of the following General Ledger accounts listed (Note: For purposes of this exercise, dates are omitted from the expenditure and encumbrances accounts as expenditures from two year's appropriations do not occur.) . Cash Taxes ReceivableCurrent Estimated Uncollectible Current Taxes Taxes Receivable--Delinquent Estimated Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Estimated Uncollectible Interest and Penalties Due from Other Funds Due from State Government Estimated Revenues Revenues Vouchers Payable Tax Anticipation Notes Payable Due to Other Funds Due to Federal Government 13