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its one questin but ut has multiple parts !! The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning
its one questin but ut has multiple parts !!
The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,723,000 as follows property taxes, 51.908,000, licenses and permits, $355,000. fines and forfeits. $255,000, and intergovernmental state grants). $205,000. The budget approved appropriations of $2,672,000 as follows General Government $505.000; Public Safety. $1,610,000, Public Works. $355,000, Culture and Recreation. 151,000; and Miscellaneous $51000 Required a. & bPrepare the journal entry (or entries), to record the Town of Bedford Falls's General Fund operating budget on July 1. the beginning of the Town's fiscal year and also record the following transactions that occurred during the month of July. Also show entries in the subsidiary ledger accounts, to record the Town of Bedford Falls's General Fund operating budget on July 1, the beginning of the Town's fiscal year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first occount field.) 1. Revenues were collected in cash amounting to $32,000 for licenses and permits and $12,500 for fines and forfeits 2. Supplies were ordered by the following functions in early July at the estimated costs shown General Government Public Safety Public Works Culture and Recreation Piscellaneous Total $ 7,500 11,500 6,200 4,300 1,000 530,500 3. During July, supplies were received at the actual costs shown below and were paid in cash General Government, Culture and Recreation and Miscellaneous received all supplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month at estimated costs of $10,800 and $6.000, respectively, General Government Public Safety Public Works culture and Recreation Miscellaneous Total Actual Cost $ 2,400 10.900 6,200 4,200 2.000 $ 29,700 Estimated cost $2,500 10,000 6.000 4,300 $ 29,600 View transaction list Public Wor Culture and Recreation Miscellaneous Total by 200 4,200 1,000 $ 29,700 6,00 4,300 1,000 29,600 $ View transaction list Journal entry worksheet Step by Step Solution
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