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Hello, I need the parts c) to e) please, I would be very grateful if someone could help me! Thanks in advance Montana County uses

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Hello, I need the parts c) to e) please, I would be very grateful if someone could help me! Thanks in advance

Montana County uses the purchases method for inventories, and the GAAP budgetary basis for e brances outstanding at year-end. Assigned fund balance consists of outstanding encumbrances. The begin- ning balance for taxes receivable are uncollected 2019 taxes. The following events occurred in fiscal 2020: 1. Passed the 2020 budget, consisting of expected revenues from property taxes, fees and licenses of $370,500, expected state grants of $40,000, estimated expenditures of $370,000 , and expected trans- State and Local Governments: Introduction and General Fund Transactions encum fers out of $50,000. Accrued the state grants. 2. Levied property taxes of $300,000, of which 5 percent are estimated to be uncollectible. Collected $280,000 of these taxes 3. Received $25,000 in state grants 4. Collected $10,000 in 2019 taxes; wrote off the remainder. 5. Transferred $50,000 to the special revenue fund. 6. Received $65,000 in cash for fees and licenses. 7. Received the inventories connected with purchase orders outstanding as of the end of fiscal 2010 The bill was $3,200. 8. Paid $8,000 to the capital projects fund, as a temporary loan. 9. Received $12,000 from the special revenue fund as partial repayment of a loan made in fiscal 2019, 10. Purchased inventories of $45,000 on account 11. Made other expenditures of $320,000 during the year. Purchase orders outstanding at year-end total $1,600 12. Total accounts payable paid in fiscal 2020 amounted to $367,000. Included are amounts related to expenditures and inventory purchases. 13. Inventories on hand at year-end total $6,000 14. Of the fiscal 2020 taxes uncollected at year-end, $8,000 are expected to be collected within 60 days. Required a. Prepare entries necessary at the beginning of the year to record the budget and make any other neces- sary adjustments or accruals. b. Prepare entries necessary to record the events of the year and any year-end adjustments. Prepare the necessary closing entries for June 30, 2020 d. Present, in good form, the statement of revenues, expenditures and changes in fund balances for Montana County for fiscal 2020. Include a reconciliation of beginning and ending fund balances. Present, in good form, the balance sheet for the general fund of Montana County for June 30, 2020. . . 3 Capital Asset and Debt Transactions: Modified Accrual and Full Accrual Accounting A major difference between modified accrual accounting used for the general fund and full accrual accounting Montana County uses the purchases method for inventories, and the GAAP budgetary basis for e brances outstanding at year-end. Assigned fund balance consists of outstanding encumbrances. The begin- ning balance for taxes receivable are uncollected 2019 taxes. The following events occurred in fiscal 2020: 1. Passed the 2020 budget, consisting of expected revenues from property taxes, fees and licenses of $370,500, expected state grants of $40,000, estimated expenditures of $370,000 , and expected trans- State and Local Governments: Introduction and General Fund Transactions encum fers out of $50,000. Accrued the state grants. 2. Levied property taxes of $300,000, of which 5 percent are estimated to be uncollectible. Collected $280,000 of these taxes 3. Received $25,000 in state grants 4. Collected $10,000 in 2019 taxes; wrote off the remainder. 5. Transferred $50,000 to the special revenue fund. 6. Received $65,000 in cash for fees and licenses. 7. Received the inventories connected with purchase orders outstanding as of the end of fiscal 2010 The bill was $3,200. 8. Paid $8,000 to the capital projects fund, as a temporary loan. 9. Received $12,000 from the special revenue fund as partial repayment of a loan made in fiscal 2019, 10. Purchased inventories of $45,000 on account 11. Made other expenditures of $320,000 during the year. Purchase orders outstanding at year-end total $1,600 12. Total accounts payable paid in fiscal 2020 amounted to $367,000. Included are amounts related to expenditures and inventory purchases. 13. Inventories on hand at year-end total $6,000 14. Of the fiscal 2020 taxes uncollected at year-end, $8,000 are expected to be collected within 60 days. Required a. Prepare entries necessary at the beginning of the year to record the budget and make any other neces- sary adjustments or accruals. b. Prepare entries necessary to record the events of the year and any year-end adjustments. Prepare the necessary closing entries for June 30, 2020 d. Present, in good form, the statement of revenues, expenditures and changes in fund balances for Montana County for fiscal 2020. Include a reconciliation of beginning and ending fund balances. Present, in good form, the balance sheet for the general fund of Montana County for June 30, 2020. . . 3 Capital Asset and Debt Transactions: Modified Accrual and Full Accrual Accounting A major difference between modified accrual accounting used for the general fund and full accrual accounting

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