Chapter 4 Recording Operating Transactions Affecting the General Fund and Governmental Activities at the Government-wide Level Presented below are a number of transactions for the City of Smithville that occurred during fiscal year 2020, the year for which the budget given in Chapter 3 was recorded. Read all instructions carefully a. After opening the data file containing your data from Chapters 2 and 3 of this project record the following transactions in the general journal for the General Fund and, if applicable, in the general journal for governmental activities at the government-wide level. For all entries, the date selected should be year 2020. For each of the paragraphs that requires entries in both the General Fund and governmental activities journals, you can either record them in both journals on a paragraph-by-paragraph paragraphs. If you choose the latter method, it might be useful to print the General activities journal. Regardless of the method you choose, we highly recommend that basis or, alternatively, record all the General Fund journal entries first for all paragraphs, then complete the governmental activities journal entries for all Fund general journal entries to assist in making the entries in the governmental you refer to the illustrative journal entries in Chapter 4 of the Reck, Lowensohn, and Neely textbook (18h edition) for guidance in making all entries. For each entry affecting budgetary accounts or operating statement accounts, you will be directed to the Detail Journal to record the appropriate amounts in the detail budgetary or actual accounts as was the case in Chapter 3 1. [Para. 4-a-1] On January 2, 2020, real property taxes were levied for the year in the amount of $1,878,700. It was estimated that 2 percent of the levy would be Required: Record this transaction in both the General Fund and governmental referencing by paragraph number is very helpful should you need to determine uncollectible. activities journal. (Note: Type 4-a-1 as the paragraph number in the [Add description] field for this entry; 4-a-2 for the next transaction, etc. Careful where you may have omitted a required journal entry or may have made an error.) will select "Accrued Revenue" in the drop down [Description] menu when For the General Fund only you will be directed to the Detail Journal where you recording property tax revenue 2. (Para. 4a-2] Encumbrances were recorded in the following amounts for purchase orders issued against the appropriations indicated: General Government Public Safety Public Works Culture and Recreation2039 $135,673 386,652 180,804 2019byMon-lill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a websine, in 10 whole or part Chapter 4 Recording Operating Transactions Affecting the General Fund and Governmental Activities at the Government-wide Level Presented below are a number of transactions for the City of Smithville that occurred during fiscal year 2020, the year for which the budget given in Chapter 3 was recorded. Read all instructions carefully a. After opening the data file containing your data from Chapters 2 and 3 of this project record the following transactions in the general journal for the General Fund and, if applicable, in the general journal for governmental activities at the government-wide level. For all entries, the date selected should be year 2020. For each of the paragraphs that requires entries in both the General Fund and governmental activities journals, you can either record them in both journals on a paragraph-by-paragraph paragraphs. If you choose the latter method, it might be useful to print the General activities journal. Regardless of the method you choose, we highly recommend that basis or, alternatively, record all the General Fund journal entries first for all paragraphs, then complete the governmental activities journal entries for all Fund general journal entries to assist in making the entries in the governmental you refer to the illustrative journal entries in Chapter 4 of the Reck, Lowensohn, and Neely textbook (18h edition) for guidance in making all entries. For each entry affecting budgetary accounts or operating statement accounts, you will be directed to the Detail Journal to record the appropriate amounts in the detail budgetary or actual accounts as was the case in Chapter 3 1. [Para. 4-a-1] On January 2, 2020, real property taxes were levied for the year in the amount of $1,878,700. It was estimated that 2 percent of the levy would be Required: Record this transaction in both the General Fund and governmental referencing by paragraph number is very helpful should you need to determine uncollectible. activities journal. (Note: Type 4-a-1 as the paragraph number in the [Add description] field for this entry; 4-a-2 for the next transaction, etc. Careful where you may have omitted a required journal entry or may have made an error.) will select "Accrued Revenue" in the drop down [Description] menu when For the General Fund only you will be directed to the Detail Journal where you recording property tax revenue 2. (Para. 4a-2] Encumbrances were recorded in the following amounts for purchase orders issued against the appropriations indicated: General Government Public Safety Public Works Culture and Recreation2039 $135,673 386,652 180,804 2019byMon-lill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a websine, in 10 whole or part