Journal entries for several funds and statements for an Internal Service Fund The follonig transact ons relate to the cicy of Monc cello for the fiscal year endec J. Je 30,2021. 1. The city established a Central 5upplies Fund for the purpose of hand ing the acquisition and cisbursement of suop lies for the entire cty. The Genera Fund made ari iritial capital contribution of 5180,000 to the fund. 2. The police cepartment ordered equipment at a told cost of $81.600. 3. The Cencral Sppolles Fund purchased supples for $69,600. This amount will he pald later. 4. The Debl Service Fund paid s288,000 of interest nol previdusly recorded. 5. Cen-ral 5 uppl es Fund billings to deparmen-s rotaled $74, no. The fund premously spert seo,jou for the supplies. 6. A Captal Projects Fund paid a coatractor $740,000 for a premously suhmirred progrees bill ng of 5264, 000. The difference between the bil ing and the amount paid is the retained percertage. The bill ing was rece ded correctly when receiwed by the func. 7. The Central Supplies Fund acquired ofice equ prrent for \$4,800. A. 90-day note was sigened tor that amount, 8. Col ections from the departments by the Central Supolies Fund to a ped $66,C00. 9. Salarles pad to Central 5upplles Fund employees were 554,000 , 10. The pol ce depa timent equipment ordered in Trarsact on 2 kias delivered at a cost of $4,odo. The mwolce price will be pald later. Assume the excess was approwed. 11. The Central supples rund calculated depreciation on its cffice equipment for the year of 596c. 12. The Cental Supplies Fund paid $60,000 to various credi ters outside bhe cily. 13. Interest expense of $120 on the note payat e was accrued by the central supplies fund. a) Prepere the journal entries needed to record the transactic s in the General Fund. Enter in the order of the transactions above, for that amount, 8. Col ections irorn the departments by the Central Sup olies Fund touled $66,000. 9. Salarles paid to Central Supplles Fund employees were 554,000 . 10. The police departrent equipment ordered in Iransact on 2 was delivered at a cost of $34.000. The involce price will be paid later. Assume the excess, was a approwed. 11. The Central supples Fund calculated depreciation on is cffice equipment for the year of $96C. 12. The cencrel suppl es Fund pa d $60.000 to various cred tars outside the city. 13. Interest expense of $120 on the note payat e was accrued by the Central Supplies Fund. a) Prepare the journal entries reeded to rezord the transacticns in the General Fund. Enter in the order of the transactions above. b) Prepare the jourral entries needed to record the transations in the Certral Supp ies Fund. Enter In the order of the transactlons above. b) Prepare the jounal entries needed to record the transactions in the Central 5uop ies Fund. Enter in the order of the transactions above. c) Prepare the journel entries needed w retore the transedions in the Debu Service Fund. Enter In the order of the transactlons above. HINT: Record the liability first. d) Prepare the journal entry needed to record the tyansactions in the Cap tal Projects Fund. Enter in the order of the transactions above. c) Prepare the statement of rewenuss, expenses. dnd changes in fund net position for the central Supplies F Enter In the order of the transactons above. e) Prepare the state ment of reventes, expenses, and changes in fund ne- position for the Centralsupplies, Fund for Lhe year encted June 30,2921. Enter operating expenses In order of magnitude (largest to smallest amounts). f) Prepare the statement of net position for the Central Supplies tund at june 30,2021 . Enter all amounts as positive numbers. ty Prepare the stacement ot nec posician for the central supplies Fund at June 30,2021. Enter all amounts as positive numbers. Journal entries for several funds and statements for an Internal Service Fund The follonig transact ons relate to the cicy of Monc cello for the fiscal year endec J. Je 30,2021. 1. The city established a Central 5upplies Fund for the purpose of hand ing the acquisition and cisbursement of suop lies for the entire cty. The Genera Fund made ari iritial capital contribution of 5180,000 to the fund. 2. The police cepartment ordered equipment at a told cost of $81.600. 3. The Cencral Sppolles Fund purchased supples for $69,600. This amount will he pald later. 4. The Debl Service Fund paid s288,000 of interest nol previdusly recorded. 5. Cen-ral 5 uppl es Fund billings to deparmen-s rotaled $74, no. The fund premously spert seo,jou for the supplies. 6. A Captal Projects Fund paid a coatractor $740,000 for a premously suhmirred progrees bill ng of 5264, 000. The difference between the bil ing and the amount paid is the retained percertage. The bill ing was rece ded correctly when receiwed by the func. 7. The Central Supplies Fund acquired ofice equ prrent for \$4,800. A. 90-day note was sigened tor that amount, 8. Col ections from the departments by the Central Supolies Fund to a ped $66,C00. 9. Salarles pad to Central 5upplles Fund employees were 554,000 , 10. The pol ce depa timent equipment ordered in Trarsact on 2 kias delivered at a cost of $4,odo. The mwolce price will be pald later. Assume the excess was approwed. 11. The Central supples rund calculated depreciation on its cffice equipment for the year of 596c. 12. The Cental Supplies Fund paid $60,000 to various credi ters outside bhe cily. 13. Interest expense of $120 on the note payat e was accrued by the central supplies fund. a) Prepere the journal entries needed to record the transactic s in the General Fund. Enter in the order of the transactions above, for that amount, 8. Col ections irorn the departments by the Central Sup olies Fund touled $66,000. 9. Salarles paid to Central Supplles Fund employees were 554,000 . 10. The police departrent equipment ordered in Iransact on 2 was delivered at a cost of $34.000. The involce price will be paid later. Assume the excess, was a approwed. 11. The Central supples Fund calculated depreciation on is cffice equipment for the year of $96C. 12. The cencrel suppl es Fund pa d $60.000 to various cred tars outside the city. 13. Interest expense of $120 on the note payat e was accrued by the Central Supplies Fund. a) Prepare the journal entries reeded to rezord the transacticns in the General Fund. Enter in the order of the transactions above. b) Prepare the jourral entries needed to record the transations in the Certral Supp ies Fund. Enter In the order of the transactlons above. b) Prepare the jounal entries needed to record the transactions in the Central 5uop ies Fund. Enter in the order of the transactions above. c) Prepare the journel entries needed w retore the transedions in the Debu Service Fund. Enter In the order of the transactlons above. HINT: Record the liability first. d) Prepare the journal entry needed to record the tyansactions in the Cap tal Projects Fund. Enter in the order of the transactions above. c) Prepare the statement of rewenuss, expenses. dnd changes in fund net position for the central Supplies F Enter In the order of the transactons above. e) Prepare the state ment of reventes, expenses, and changes in fund ne- position for the Centralsupplies, Fund for Lhe year encted June 30,2921. Enter operating expenses In order of magnitude (largest to smallest amounts). f) Prepare the statement of net position for the Central Supplies tund at june 30,2021 . Enter all amounts as positive numbers. ty Prepare the stacement ot nec posician for the central supplies Fund at June 30,2021. Enter all amounts as positive numbers