Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

fscarf year rricled Jyne 30.202. Additional Information: 1. The estimated taxes receivable for the year ended June 30,202, were $2.870,000, and the taxes collected durting

image text in transcribed
image text in transcribed
fscarf year rricled Jyne 30.202. Additional Information: 1. The estimated taxes receivable for the year ended June 30,202, were $2.870,000, and the taxes collected durting the year totaled $2,810,000. Miscellaneous revenue of $130,000 also was collected during the year. 2. Encumbrances in the amount of $2,700,000 were recorded. In addition, the $60,000 of lapsed encumbrances from the 201 iscal year was renewed. 3. During the year, the general fund was billed $142,000 for services performed on its behalf by other chy funds (debil Expenditures) 4. An analysis of the transactions in the Voucheis. Payable account for the year ended June 30,202, foliows: Required: On the hasis of the data presented, reconstruct the original chetalled journal entries that were reguired to record nat transactichs fot the fiscal year ended Jume 30,202. including the recordang of the cuirent year's budge4, Do not prepare ciosing entines lot Jane aD. 202. Note: If no entry is required for a transoction/event, select "No journal entry required" in the tirst secount field. Note: Enter debits before crearts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

3rd Edition

978-0077398194

Students also viewed these Accounting questions

Question

a sin(2x) x Let f(x)=2x+1 In(be)

Answered: 1 week ago