Help me fill the debit and credit please, thanks
| The City of Lynnwood was recently incorporated and had the following transactions for the fiscal year ended December 31, 2017. |
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| 1. | The city council adopted a General Fund budget for the fiscal year. Revenues were estimated at $2,040,000 and appropriations were $1,994,000. |
| 2. | Property taxes in the amount of $1,980,000 were levied. It is estimated that $11,000 of the taxes levied will be uncollectible. |
| 3. | A General Fund transfer of $27,000 in cash and $304,000 in equipment (with accumulated depreciation of $69,000) was made to establish a central duplicating internal service fund. |
| 4. | A citizen of Lynnwood donated marketable securities with a fair value of $840,000. The donated resources are to be maintained in perpetuity with the city using the revenue generated by the donation to finance an after school program for children, which is sponsored by the culture and recreation function. Revenue earned and received as of December 31, 2017, was $44,000. |
| 5. | The citys utility fund billed the citys General Fund $129,000 for water and sewage services. As of December 31, the General Fund had paid $128,000 of the amount billed. |
| 6. | The central duplicating fund purchased $6,500 in supplies. |
| 7. | Cash collections recorded by the general government function during the year were as follows: |
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| Property taxes | $ | 1,929,000 | |
| Licenses and permits | | 39,000 | |
| User charges | | 30,000 | |
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| 8. | During the year the internal service fund billed the citys general government function $17,700 for duplicating services and it billed the citys utility fund $10,100 for services. |
| 9. | The city council decided to build a city hall at an estimated cost of $5,040,000. To finance the construction, 5 percent bonds were sold at the face value of $5,040,000. A contract for $4,540,000 has been signed for the project; however no expenditures have been incurred as of December 31, 2017. |
| 10. | The general government function issued a purchase order for $34,000 for computer equipment. When the equipment was received, a voucher for $32,300 was approved for payment and payment was made. |
Answer is not complete. Fund or Transaction General Journal Debit Credit Activity 1. The city council adopted a General Fund budget for the fiscal year. Revenues were estimated at $2,040,000 and appropriations were $1,994,000. 1 GF Estimated Revenues Appropriations Budgetary Fund Balance 2. Property taxes in the amount of $1,980,000 were levied. It is estimated that $11,000 of the taxes levied will be uncollectible. GF Taxes Receivable-Current Allowance for Uncollectible Current Taxes Revenues Taxes ReceivableCurrent Allowance for Uncollectible Current Taxes General RevenuesProperty Taxes 3. A General Fund transfer of $27,000 in cash and $304,000 in equipment (with accumulated depreciation of $69,000) was made to establish a central duplicating internal service fund. Other Financing UsesInterfund Transfers Out Cash GF ISF Cash Equipment Accumulated Depreciation Other Financing SourcesInterfund Transfers In 4. A citizen of Lynnwood donated marketable securities with a fair value of $840,000. The donated resources are to be maintained in perpetuity with the city using the revenue generated by the donation to finance an after school program for children, which is sponsored by the culture and recreation function. Revenue earned and received as of December 31, 2017, was $44,000. 4a PF Record the donation of marketable securities. InvestmentsMarketable Securities Revenues-Contributions for Endowment Record the receipt of interest. Cash RevenuesInvestment Earnings Record the transfer of interest Other Financing Uses-Interfund Transfers Out Cash SRF Cash Other Financing SourcesInterfund Transfers In 4eGA Record the donation of marketable securities. InvestmentsMarketable Securities General Revenues-Contributions for Endowment Record the receipt of interest. Cash Program Revenues-Culture and Recreation Operating Grants and Contributions 5. The city's utility fund billed the city's General Fund $129,000 for water and sewage services. As of December 31, the General Fund had paid $128,000 of the amount billed. 5 EF Record the billings for services made by the utilities fund for water and sewage services Due from Other Funds Charges for Services 5b Record the amount received against billings for services. Cash Due from Other Funds 50 GF Record the expenditure towards water and sewage services. Expenditures Due to Other Funds Record the payment against billings for services. Due to Other Funds Cash Record the expenditure towards water and sewage services. Expenses-General Government Internal Balances Record the payment against billings for services. Internal Balances Cash 6. The central duplicating fund purchased $6,500 in supplies. ISF Inventory of Supplies Cash GA Inventory of Supplies Cash 7. Cash collections recorded by the General Fund during the year were as follows: property taxes, $1,929,000; licenses and permits, $39,000; user charges, $30,000 GF Cash Taxes ReceivableCurrent Revenues GA Cash Taxes Receivable-Current Program Revenue-General Government-Charges for Services 8. During the year the internal service fund billed the city's general government function $17,700 for duplicating services and it billed the city's utility fund $10,100 for services. ISF Due from Other Funds Billings to departments EF Expenses-Administrative Due to Other Funds GF Expenditures-General Government Due to Other Funds Internal Balances Program Revenue-General Government-Charges for Services 9. The city council decided to build a city hall at an estimated cost of $5,040,000. To finance the construction, 5 percent bonds were sold at the face value of $5,040,000. A contract for $4,540,000 has been signed for the project; however no expenditures have been incurred as of December 31, 2017. 9 CPF Record the issues of bonds for the City Hall. Cash Other Financing SourcesProceeds of Bonds Record the contract the estimated expenditure towards the City Hall building contract. Encumbrances Encumbrances Outstanding Cash Bonds Payable 10. The general government function issued a purchase order for $34,000 for computer equipment. When the equipment was received, a voucher for $32,300 was approved for payment and payment was made. 10a GF Record the issues of purchase order. Encumbrances Encumbrances Outstanding 10b Record the payment made towards purchase of computer. Encumbrances Outstanding Expenditures Encumbrances Cash 100 GA Equipment Cash
