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Following are descriptions of transactions and other financial events for the City of Tetris for the year ending December 2020. Not all transactions have been

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Following are descriptions of transactions and other financial events for the City of Tetris for the year ending December 2020. Not all transactions have been included here. Only the general fund formally records a budget. No encumbrances were carried over from 2019. The following questions are independent although each is based on the preceding information. Assume that the government is preparing information for its fund financial statements. a. What is the balance in the Budgetary Fund Balance account for the budget for the year? Is it a debit or credit? d. Assume that new ambulance was received on December 31,2020. Provide all necessary journal entries on that date. e. Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a longterm debt. f. What amount of revenue should the city recognize for the period? g. What are the total expenditures? Assume that 60 percent of the school supplies are used during the year so that 40 percent remain. The City of Tetris uses the consumption method. h. What journal entry or entries did the city prepare for the issuance of the bonds? Complete this question by entering your answers in the tabs below. Assume that new ambulance was received on December 31, 2020. Provide all necessary journal entries on that date. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Complete this question by entering your answers in the tabs below. Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long-term debt. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Complete this question by entering your answers in the tabs below. f. What amount of revenue would be recognized for the period? g. What are the total expenditures? Assume that 60 percent of the school supplies are used during the year so that 40 percent remain. The City of Tetris uses the consumption method. Complete this question by entering your answers in the tabs below. What journal entry or entries did the city prepare for the issuance of the bonds? (Select the appropriate fund for each situation w required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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