Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer Problem 51 (parts A - H) from Chapter 9 of Advanced Accounting 2017 by Halsey & Hopkins ISBN : 9781618531902 PROBLEMS 51. Journal

Please answer Problem 51 (parts A - H) from Chapter 9 of Advanced Accounting 2017 by Halsey & Hopkins ISBN : 9781618531902

image text in transcribed

image text in transcribed

PROBLEMS 51. Journal entries for a series of transactions Prepare journal entries in the General Fund for each of the following events relating to the City of Bar (all amounts 1.000s). a. The citizens approve the following budget for the year: $94,709 ESTIMATED REVENUES 2,000 ESTIMATED OTHER FINANCING SOURCES (92,728) APPROPRIATIONS. 3,981 BUDGETARY FUND BALANCE h. The City records the following revenues (on account) and other financing sources (paid in cash) during the year: $81,900 Revenues real estate and personal property taxes 14,742 Revenues intergovernmental Other financing sources-bond proceeds 2,000 The City issues purchase invoices totaling $91.810 (record the issuance of invoices as a lump sum) d. The City recognizes the following expenditures. all on account (these expenditures were previously reserved as budgetary encumbrances): Expenditures general government. $13,772 Expenditures public safety 9,181 Expenditures education 55,086 Expenditures-public works 4,590 Expenditures-human services 9,181

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Steps To Forensic Auditing And Fraud Investigation

Authors: Enape Victoria Ayishetu

1st Edition

1669867048, 978-1669867043

More Books

Students also viewed these Accounting questions