I am looking for help on the City of Smithville 2016 17th edition - specifically the chapter journal entries. Please do not send me 16th edition or anything older than 2016. I have all those answers. I need the MOST CURRENT answers for 2016/2017 entries. Any help would be greatly appreciated!

Chapter 4 Recording Operating Transactions Affecting the General Fund and Governmental Activities at the Governmentwide Level

Presented below are a number of transactions for the City of Smithville that occurred during fiscal year 2017, the year for which the budget given in Chapter 3 was recorded. Read all instructions carefully.

After opening the data file containing your data from Chapters 2 and 3 of this project, record the following transactions in the general journal for the General Fund and, if applicable, in the general journal for governmental activities at the governmentwide level. For all entries, the date selected should be year 2017. For each of the paragraphs that requires entries in both the General Fund and governmental activities journals, you can either record them in both journals on a paragraphbyparagraph basis or, alternatively, record all the General Fund journal entries first for all paragraphs, then complete the governmental activities journal entries for all paragraphs. If you choose the latter method, it might be useful to print the General Fund general journal entries to assist in making the entries in the governmental activities journal. Regardless of the method you choose, we highly recommend that you refer to the illustrative journal entries in Chapter 4 of the Reck and Lowensohn textbook (17thedition) for guidance in making all entries.

For each entry affecting budgetary accounts or operating statement accounts, the Detail Journal will automatically open to allow you to record the appropriate amounts in the detail budgetary or actual accounts as was the case in Chapter 3.

Before closing the City of Smithville, click on [File], and [Save/Save As] to save your work. If you close the file by clicking on the [X] box you will be asked if you want to save your changes before closing.

1.[Para. 4a1] OnJanuary2,2017,realtaxeswereleviedforyearamountof$1,731,000.wasestimated3percentofwoulduncollectible.

Required: Record this transaction in both the General Fund and governmental activities journal. (Note: Type 4a 1 as the paragraph number in the [Transaction Description] box for this entry; 4a2 for the next transaction, etc. Careful referencing by paragraph number is very helpful should you need to determine where you may have omitted a required journal entry or may have made an error.)Select Accrued Revenue in the drop down [Transaction Description] menu in the Detail Journal related to the General Fund entry.

2.[Para. 4a2] wererecordedthefollowingamountsforordersissuedagainsttheappropriations

General Government	$ 98,453
Public Safety	183,259
Public Works	217,675
Culture and Recreation	108,927
Total	$608,314

Required: Record the encumbrances in the General Fund general journal and Detail Journal as appropriate. In the Detail Journal, select Purchase Orders from the drop down [Transaction Description] menu. You can also type in an alternative description, if desired.

3.[Para. 4a3] Cashwasreceivedyeartotalamountof$3,399,599forcollectionsfromthefollowingreceivablesandcashrevenues,as

Current Property Taxes	$1,561,535
Delinquent Property Taxes	235,000
Interest and Penalties Receivable on Taxes	34,270
Due from State Government	165,000
Revenues: (total: $1,403,794)
Licenses and Permits	601,314
Fines and Forfeits	410,660
Intergovernmental	160,000
Charges for Services	231,820
Total	$3,399,599

Required: Record the receipt of cash and the related credits to receivables and revenues accounts, as applicable, in both the General Fund and governmental activities journals. (Select Received Cash in the drop down [Transaction Description] menu in the Detail Journal related to the General Fund revenue entries.)

For purposes of the governmental activities entries at the governmentwide level assume the following revenue classifications:

General Fund Governmental Activities

Licenses and Permits Program RevenuesGeneral Government

Charges for Services

Fines and Forfeits Program RevenuesGeneral Government

Charges for Services Intergovernmental Program RevenuesPublic SafetyOperating

Grants and Contributions

Charges for Services Program RevenuesGeneral Government

Charges for Services, $143,850 Program RevenuesCulture and Recreation

Charges for Services, $87,970

4.[Para. 4a4] Generalpayrollsfortheyeartotaled$2,638,220.thatamount,$395,733waswithheldforemployees'federalincometaxes;$344,623forpayrolltaxes;$98,933foremployeesstateincometaxes;

$194,545 for retirement funds administered by the state government; and the remaining $1,604,386 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions:

General Government	$ 518,022
Public Safety	1,242,447
Public Works	588,947
Culture and Recreation	288,804
Total	$2,638,220

Required: Make summary journal entries for payroll in both the General Fund and governmental activities general journals for the year.

5.[Para. 4a5] Invoicesforsome ofgoodsrecordedastransaction4a2werereceivedandvoucheredforasbelow.Relatedencumbranceswerecanceledinamountsbelowdropdown[Transaction Description] Detail

	Expenditures	Encumbrances
General Government	$ 94,776	$ 94,752
Public Safety	175,406	175,620
Public Works	194,408	194,512
Culture and Recreation	108,187	108,150
	$572,777	$573,034

Required: Record the receipt of these goods and the related vouchers payable in both the General Fund and governmental activities journals. At the governmentwide level, you should assume the city uses the periodic inventory method. Thus, the invoiced amounts above should be recorded as expenses of the appropriate functions, except that $32,340 of the amount charged to the Public Works function was for a vehicle (debit Equipment for this item at the governmentwide level).

6.[Para. 4a6] DuringFY2017,Cityofreceivednotificationstategovernmentwouldsend

$115,000 at the beginning of the next fiscal year. Based on the citys definition of available for use, the city considers the funds available for Public Safetys use in the current reporting period. The budget for the current year included this amount as "Intergovernmental Revenue.

Required: Record this transaction as a receivable and revenue in the General Fund and governmental activities journals. (Note: Select Accrued Revenue in the [Transaction Description] box in the Detail Journal). At the governmentwide level, assume that this item is an operating grant to the Public Safety function.

7.[Para. 4a7] werewrittentotalofduring2017.wereinoffollowing

Vouchers Payable	$700,000
Due to Federal Government	731,506
Due to State Government	290,065
Total amount paid	$1,721,571

Required: Record the payment of these items in both the General Fund and governmental activities general journals.

8.[Para. 4a8] CurrentreceivableuncollectedatandAllowanceforCurrentwerereclassifiedas

Required: Record this transaction in the General Fund and governmental activities journals.

9.[Para. 4a9] Interestandreceivableonwas$11,000;$3,500ofthiswasestimatedas

Required: Record this transaction in the General Fund and governmental activities journals as a revenue transaction.

10.[Para. 4a10] citysfor2017wasasfollows:

Estimated Revenues:

Decreases Increases

Charges for Services $ 5,000

Total $ 5,000 $0

Appropriations:

Public Safety $11,000

Public Works $1,600

Culture and Recreation 37,500

$11,000 $39,100

Note: These amendments decrease the balance of the Budgetary Fund Balance account by $33,100.

Required: Record the budget amendments in the General Fund general journal only. Budgetary items do not affect the governmentwide accounting records. (Note: Select Budget Amendment in the [Transaction Description] box in the Detail Journal.)

Post all journal entries to the general and subsidiary ledgers: After reviewing all entries for accuracy, including year and paragraph numbers, post all entries to the general ledger accounts and to all subsidiary ledger accounts, by clicking on [Post Entries]. Also post all entries in the governmental activities journal.

11.Closing Entry. Followingparagraph,prepareandpostthenecessaryentriescloseRevenuesandAppropriationsBudgetaryBalance,andRevenuesandBalanceUnassigned.BecauseofSmithvillehonorsallencumbrancesatitnotcloseatsinceencumbrancesnotaffecttheGeneralbalancesheetorstatementofrevenues,andfundbalances.If,however,youwouldlikeavoidhavingtheseappearintrialbalance,youcanopttoclosetheareclosed,wouldtoatoftheyear.

To close the temporary accounts, you must click on the check mark for [Closing Entry], Closing Entry will appear in the [Transaction Description] box. Be sure the check mark in the box for [Closing Entry] is showing before closing each individual account. Also, you will be sent to the Detail Journal where you must close each individual budgetary or operating statement account. To determine the closing amounts for both General Ledger and subsidiary ledger accounts, you will need to first save and print the preclosing version of these ledgers for year 2017 from the [Reports] menu.

At yearend, an analysis by the citys finance department determined the following constraints on fund balances in the General Fund. Prepare the appropriate closing/reclassification journal entry in the General Fund to reclassify amounts between Fund BalanceUnassigned and the fund balance accounts corresponding to the constraints shown below. (Note: You should consider the beginning of year balances in fund balance accounts in calculating the amounts to be reclassified. Be sure the check mark in the box for [Closing Entry] is showing before closing each individual account.)

Account	Ending Balance
Fund BalanceCommittedGeneral Government	$30,000
Fund BalanceRestrictedPublic Safety	36,000
Fund BalanceCommittedPublic Works	12,700
Fund BalanceAssignedCulture and Recreation	0

Note: DO NOT PREPARE CLOSING ENTRIES FOR GOVERNMENTAL ACTIVITIES 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 governmentwide level have been recorded.

Select [Export] from the drop down [File] menu to create an Excel worksheet of the General Fund postclosing trial balance as of December 31, 2017. Use Excel to prepare in good form a balance sheet for the General Fund as of December 31, 2017. Follow the format shown in Illustration 43 of Reck and Lowensohn, Accounting for Governmental & Nonprofit Entities, 17th edition textbook (hereafter referred to as the textbook.)

Select [Export] from the drop down [File] menu to create an Excel worksheet of the General Fund preclosing subsidiary ledger account balances for the year 2017. Use Excel to prepare in good form a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2017. (See Illustration 44 in the textbook for an example format.)

Use the Excel worksheet of the General Fund preclosing subsidiary ledger account balances created in part c above to prepare in good form a schedule of revenues, expenditures, and changes in fund balancebudget and actual for the General Fund for the year ended December 31, 2017. (See Illustration 45 in the textbook for an example format.)

Prepare a reconciliation of total expenditures reported in your solution to part c of this problem with the total expenditures and encumbrances reported in your solution to part d of this problem. (In Chapter 4below Illustration 45, see discussion and example which compares Illustrations 44 and 45.)

[Note: File the printouts of all your worksheets and your completed financial statements in your cumulative problem folder until directed by your instructor to submit them, unless your instructor specifies submission of files electronically.]

Before closing the City of Smithville, click on [File], and [Save/Save As] to save your work. If you close the file by clicking on the [X] box you will be asked if you want to save your changes befor