help filling out entries 5-b-5 through 5-b-8

Copy of City of Convallis mod 5(1001) - Protected View - Excel Auto save Data Review View Help Search File Insert Draw Page Layout Formulas Home Enable Editing PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit. it's safer to stay in Protected View F16 fo D E G H K 1 2 Don't ec these shaded columns Problem so Account Amount Check Figa 3 Debit Year 5.b.1 4 5 5 5-b-1 5 $ 24,600 6 5 7 5 $ 49,000 5 8 9 5.b 2 5-6-2 5-b3 5-b3 5-b3 s-b- 5 Credit Memo Closing Entry? Construction Expenditures-Walnut Boulevard Project 2018 5 24.600 Contracts Payable 2018 Cash 2018 5 49.000 Tex Anticipation Notes Payable 2018 Encumbrances-Walnut Boulevard Project 2018 $ 290 Encumbrances Outstanding Walnut Boulevard Proje 2018 Encumbrances Outstanding Walnut Boulevard Proje 2018 5 290 Encumbrances Walnut Boulevard Project 2018 Construction Expenditures Walnut Boulevard Project 2018 5 300 Contracts Payable 2018 Cash 2018 1 95.000 Reverse-Sales Taxes 2018 $ 290 10 5 11 5 $ 5 12 13 5 5-6-3 5 5 4 $ 300 5 15 5-6-4 5 5 95 900 5 16 17 18 19 20 21 22 23 Assignment instruction Workbookstructions CP A GW 2 3 5 8 ACTIVITIES (GW) AT THIS TIME since governmental activities will not be closed until Chapter 9, after the capital projects fund (Chapter 5) and debt service fund (Chapter 6) transactions affecting governmental activities at the government-wide (GW) level have been recorded. b. When you have completed making the entries, verify their accuracy by making sure both Check Fig columns cqual SO in the ledger. Also review the trial balance to ensure that your signs are correct (1.e. assets don't have credit balances, revenues don't have debit balances, etc) and that all temporary accounts are closed to 50.00 in the Postclosing Balance column. Before closing the City of Corvallis workbook, click on [File), and [Save/Save As] to save your work. Save a copy of your work using the module number (i.e. "City of Corvallis - Module 4.xlsx") and do this for each module so that you have a backup file to revert to in the event your file becomes corrupted or unusable. c. Using the Preclosing Trial Balance amounts, open another Excel workbook or add an additional worksheet to this workbook and prepare in good form a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund (GF) for the year ended December 31, 2018 (See Illustration 4-4 in the textbook for an example.) Submit your entire workbook (or workbooks if you prepared your Statement of Revenues, etc in a separate file) in Canvas to be graded. If you are in a group, only one submission per group is required. General Fund (GF) Check Figures A few check figures to assist you: Acct Name Through Module: 4 1010 Cash 334,690 1040 Interest and Penalties Receivable on Taxes 31,316 6030 Expenditures-Public Safety 2,003,519 Government-wide (GW) Check Figures (you will be graded on the GW journal in module 9, but here are some check figures to help you know if you are on the right track). Acct Name Through Module: 4 1010 Cash 386,690 2010 Vouchers Payable -223,200 6620 Expenses- Public Works 695,092 4600 Program Rev.- General Gov-Charges for Services -940,760 Chapter 5 Recording Capital Asset Transactions Street Improvement Capital Projects Fund and Governmental Activities at the government-wide (GW) Level During late 2017, the voters of the City of Corvallis authorized tax-supported bond issues totaling $10,000,000 as partial financing for a series of projects to construct streets, curbs, culverts, and storm sewers in various parts of the city. The estimated total cost of the series of projects, which are expected to extend over the next three years, was $11,200,000. In addition to the bond financing, voters also approved a special V cent sales tax to assist in financing the projects. The sales tax begins January 1, 2018 and will continue for three years. The sales tax is projected to generate $400,000 each year. Copy of City of Convallis mod 5(1001) - Protected View - Excel Auto save Data Review View Help Search File Insert Draw Page Layout Formulas Home Enable Editing PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit. it's safer to stay in Protected View F16 fo D E G H K 1 2 Don't ec these shaded columns Problem so Account Amount Check Figa 3 Debit Year 5.b.1 4 5 5 5-b-1 5 $ 24,600 6 5 7 5 $ 49,000 5 8 9 5.b 2 5-6-2 5-b3 5-b3 5-b3 s-b- 5 Credit Memo Closing Entry? Construction Expenditures-Walnut Boulevard Project 2018 5 24.600 Contracts Payable 2018 Cash 2018 5 49.000 Tex Anticipation Notes Payable 2018 Encumbrances-Walnut Boulevard Project 2018 $ 290 Encumbrances Outstanding Walnut Boulevard Proje 2018 Encumbrances Outstanding Walnut Boulevard Proje 2018 5 290 Encumbrances Walnut Boulevard Project 2018 Construction Expenditures Walnut Boulevard Project 2018 5 300 Contracts Payable 2018 Cash 2018 1 95.000 Reverse-Sales Taxes 2018 $ 290 10 5 11 5 $ 5 12 13 5 5-6-3 5 5 4 $ 300 5 15 5-6-4 5 5 95 900 5 16 17 18 19 20 21 22 23 Assignment instruction Workbookstructions CP A GW 2 3 5 8 ACTIVITIES (GW) AT THIS TIME since governmental activities will not be closed until Chapter 9, after the capital projects fund (Chapter 5) and debt service fund (Chapter 6) transactions affecting governmental activities at the government-wide (GW) level have been recorded. b. When you have completed making the entries, verify their accuracy by making sure both Check Fig columns cqual SO in the ledger. Also review the trial balance to ensure that your signs are correct (1.e. assets don't have credit balances, revenues don't have debit balances, etc) and that all temporary accounts are closed to 50.00 in the Postclosing Balance column. Before closing the City of Corvallis workbook, click on [File), and [Save/Save As] to save your work. Save a copy of your work using the module number (i.e. "City of Corvallis - Module 4.xlsx") and do this for each module so that you have a backup file to revert to in the event your file becomes corrupted or unusable. c. Using the Preclosing Trial Balance amounts, open another Excel workbook or add an additional worksheet to this workbook and prepare in good form a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund (GF) for the year ended December 31, 2018 (See Illustration 4-4 in the textbook for an example.) Submit your entire workbook (or workbooks if you prepared your Statement of Revenues, etc in a separate file) in Canvas to be graded. If you are in a group, only one submission per group is required. General Fund (GF) Check Figures A few check figures to assist you: Acct Name Through Module: 4 1010 Cash 334,690 1040 Interest and Penalties Receivable on Taxes 31,316 6030 Expenditures-Public Safety 2,003,519 Government-wide (GW) Check Figures (you will be graded on the GW journal in module 9, but here are some check figures to help you know if you are on the right track). Acct Name Through Module: 4 1010 Cash 386,690 2010 Vouchers Payable -223,200 6620 Expenses- Public Works 695,092 4600 Program Rev.- General Gov-Charges for Services -940,760 Chapter 5 Recording Capital Asset Transactions Street Improvement Capital Projects Fund and Governmental Activities at the government-wide (GW) Level During late 2017, the voters of the City of Corvallis authorized tax-supported bond issues totaling $10,000,000 as partial financing for a series of projects to construct streets, curbs, culverts, and storm sewers in various parts of the city. The estimated total cost of the series of projects, which are expected to extend over the next three years, was $11,200,000. In addition to the bond financing, voters also approved a special V cent sales tax to assist in financing the projects. The sales tax begins January 1, 2018 and will continue for three years. The sales tax is projected to generate $400,000 each year