General Fund-General Ledger Account Codes Only Part D: Year-End finacial statements(form statements in packet)

Practice Set A. Accounting Entries The budget included in ExhibitAis journalized and posted to the January 2 appropriate ledgers Real Property Tax bills are prepared and mailed amounting to $50,000 January 2 Sales Tax Revenues ($10,000) for the 4th quarter of last year is received January 5 A state aid youth claim is prepared and submitted for s1,000. Moneys January 10 are anticipated to be received during the town's fiscal year Payroll #1 in Exhibit B is paid January 15 Received prior year State aid claim accrued m $500 disallowance January 20 Payroll #2 in Exhibit B is paid January 29 Abstract #1 in Exhibit C is paid January 30 Tax Collector remits tax moneys in the amount of $40,000 January 31 The Police Department issues purchase order #1 for equipment (312 February 1 in the amount Receives State aid for youth program in the amount of $1,100 ($100 February 2 adjustment for mathematical mistake) Tax Collector submits balance of taxes ($10,000) in addition to $200 in February 10 interest. February 16 Payroll#3 in Exhibit B is paid February 17 The Police Department issues purchase order #2 for equipment in the amount of $9,000. (Hint: If there is insufficient appropriations, transfer from 3120.4.) February 22 Paid Abstract #2 Exhibit c Practice Set A. Accounting Entries The budget included in ExhibitAis journalized and posted to the January 2 appropriate ledgers Real Property Tax bills are prepared and mailed amounting to $50,000 January 2 Sales Tax Revenues ($10,000) for the 4th quarter of last year is received January 5 A state aid youth claim is prepared and submitted for s1,000. Moneys January 10 are anticipated to be received during the town's fiscal year Payroll #1 in Exhibit B is paid January 15 Received prior year State aid claim accrued m $500 disallowance January 20 Payroll #2 in Exhibit B is paid January 29 Abstract #1 in Exhibit C is paid January 30 Tax Collector remits tax moneys in the amount of $40,000 January 31 The Police Department issues purchase order #1 for equipment (312 February 1 in the amount Receives State aid for youth program in the amount of $1,100 ($100 February 2 adjustment for mathematical mistake) Tax Collector submits balance of taxes ($10,000) in addition to $200 in February 10 interest. February 16 Payroll#3 in Exhibit B is paid February 17 The Police Department issues purchase order #2 for equipment in the amount of $9,000. (Hint: If there is insufficient appropriations, transfer from 3120.4.) February 22 Paid Abstract #2 Exhibit c