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Only for government-wide financial statements Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements
Only for government-wide financial statements
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $95,250. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). c. Ain) $9 million bond was issued at face value to build a new road. d. The city transfers cash of $160.000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. e. The truck ordered in (a) is received but at an actual cost of $97,650. Payment is not made at this time. 1. The city transfers cash of $39,000 from its general fund to a capital projects fund. g. The city receives a state grant of $60,000 that must be spent to promote recycling by the citizens. h. The first $9,600 of the state grant received in (g) is expended as intended Check my we Prepare journal entries for the city of Pudding's governmental funds to record the government-wide financial statements. (Select the appropriate fund for each situation when required. Enter your answers in dollar, not in millons. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less Debit Credit Transaction Fund/Activity General Journal a. A new truck for the sanitation department was ordered at a cost of $95.250 a Record encumbrances outstanding b. The city print shop did 51 200 worth of work for the school system (but has not yet been paid) b Record amount due to internal service fund c. Ain) $9 million bond was issued at face value to build a new road Governmental Activities Record sale of bonds c d. The city transfers cash of $160.000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund d Governmental Activities Record authorization of transfer for construction Racord payment of cash for construction e. The truck ordered in (a) is received but at an actual cost of $97,650. Payment is not made at this time, Record receipt of truck e. The city transfers cash of $39.000 from its general fund to a capital projects fund f Record cash received from general fund to capital project fund g. The city receives a state grant of $60,000 that must be spent to promote recycling by the citizens. Record state grant received for promoting recycling 9 h. The first 59,600 of the state grant received in (g) is expended as intended h Record cash received from the stato grant Record the expense of the grant for recycling Step by Step Solution
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