Chapter $4$

The following transactions occurred for the City of Stevensville's General Fund.

$1.$ The budget prepared for the fiscal year included Total estimated revenues of $$1,300$ and appropriations of $$1,250.$

$2.$ Encumbrances issued against the appropriations during the year were as follows:

General government: $$100$

Public safety: $$25$

Health and welfare: $$50$

$3.$ The current year's tax levy of $$1,100$ was recorded; uncollectibles were estimated as $$50.$

$4.$ Collections of delinquent taxes from prior years' levies totaled $$150$; collections of the current year's levy totaled $$1,920.$ The $$150$ in delinquent taxes were not considered to be available for last year's budget and should be considered to be revenues this fiscal year.

$5.$ Invoices were received and approved for payment for some of the items ordered in documents recorded as encumbrances in Transaction $(2)$ of this problem.

Encumbrance Actual

General Government $$75$ $$80$

Public safety $$25$ $$30$

$6.$ Revenue other than taxes collected during the year consisted of licenses and permits, $$100$; intergovernmental revenue, $$200$; and $$100$ of miscellaneous revenues.

$7.$ Other operating costs for the period, amounting to $$1,100,$ were vouchered for payment.

$8.$ Payments on Vouchers Payable totaled $$1,200.$

$9.$ Of the taxes levied in part $3.$ Above; it was determined that $$100$ would not be collected within $60$ days of the end of the fiscal year

$10.$ Closing entries required in the general fund general journal $($not the governmental activities general fund$)$

Required:

a$.$ Prepare the journal entries required in the general fund general journal.

b$.$ Prepare the journal entries required in the governmental activities general journal.

a$.$ General Fund General Journal b$.$ Governmental activities General Journal

Account Debit Credit Account Debit Credit