Question
Need help with the journal entry for both general fund and governmental activities> 5. [Para. 4-a-5] Invoices for some of the goods recorded as encumbrances
Need help with the journal entry for both general fund and governmental activities>
5. [Para. 4-a-5] Invoices for some of the goods recorded as encumbrances in transaction 4-a-2 were received and vouchered for payment, as listed below. Related encumbrances were canceled in the amounts listed below (Select Elimination in the drop down [Transaction Description] menu in the Detail Journal):
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 government-wide 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 government-wide level).
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