(GL and SL Entries; SL Trial Balance) The City of Asher had the following transactions , among others, in 20X7:

The council estimated that revenues of $210,000 would be generated for the General Fund in 20X7. The sources and amounts of expected revenues are as follows:

Property taxes . . . . ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$150,000
Parking meters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5,000
Business licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	30,000
Amusement licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	10,000
Charges for services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	8,000
Otherrevenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . .	7,000
	$210,000

Property taxes of $152,000 were levied by the council; $2,000 of these taxes are expected to be uncollectible.

The council adopted a budget revision increasing the estimate of amusement licenses revenues by $2,000 and decreasing the estimate for business licenses revenues by $2,000.

The following collections were made by the city:

The resources of a discontinued Capital Projects Fund were transferred to the General Fund, $4,800.

Enterprise Fund cash of $5,000 was paid to the General Fund to subsidize its operations.

Prepare general journal entries and budgetary entries to record the transactions in the Required

General Ledger and Revenues Subsidiary Ledger accounts.

Prepare a trial balance of the Revenues Ledger after posting the general journal entries prepared in item (a). Show agreement with the control accounts.

Prepare the general journal entry(ies) to close the revenue accounts in the General Ledger and Revenues Ledger.

P52 (GL and SL Entries; Statement)

The following are the estimated revenues for a Special Revenue Fund of the city of Marcelle at January 1, 20X5:

The city records its transactions on a cash basis during the year and adjusts to the modified accrual basis at year end. At the end of January, the following SRF collections had been made.

Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest and penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Fines and fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Permits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Animal licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$ 90,000

1,000

50

140

800

45

2,000

$ 94,035

An unanticipated grant-in-aid of $5,000 was received from the state on February 1.

SRF collections for the remaining 11 months were as follows:

Taxes . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest and penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Fines and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Permits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Animal licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$ 70,000

800

400

30

70

455

300

900

$ 72,955

At the end of 20X2, the town estimated that its total liability for compensated absences was

$160,000. Of the $160,000 liability for compensated absences, $5,000 was deemed to be pay able from available expendable financial resources.

In 20X3, the town paid $210,000 for compensated absences for vacation pay and sick leave.

At the end of 20X3, the town estimated that its total liability for compensated absences was

$140,000. None of the $140,000 liability for compensated absences was deemed to be pay able from available expendable financial resources.

a. b. c. d. e.	Prepare the journal entries required in the General Ledger of the town's General Fund to record the information in the preceding items. What amount of liabilities should be reported in the General Fund balance sheet for compensated absences for each of these years? What amount of expenditures must the town report each year in the General Fund for compensated absences? Calculate the amount of expenditures that would have been reported each year by the town if the payments and liabilities involved had been for claims and judgments instead of for compensated absences. Assume that the above payments and liabilities are associated with payments to and liabilities	Required
	payable to the town's defined benefit pension plan. Calculate the amount of General Fund pension expenditures for each year.