Preparation of appropriations ledger
The following transactions and events and events that occurred in the village of Kowitt Gorge during the calendar year 2019:
Preparation of appropriations ledger The following transactions and events that occurred in the village of Kowitt Gorge during the calendar year 2019: 1.The village commissioners adopted the following budget: Estimated revenues: Property taxes $1,850,000 All other revenues E Total revenues $2 150 000 Appropriations: All deparrrrierirs other than police $1,000,000 PoliceSalaries 500,000 Policefringe benets 450,000 Pollcksupplles 30,000 Total appropriaiions 2. The village received, in cash, property taxes of$1,840,000 and all other revenues of $295,000. 3 The village made cash payments, charging the following appropriations: All departments other than police $1,000,000 Policesalaries 595,000 Policefringe benets 390,000 4' The administrator of fringe benets received an invoice for police employee health insurance in the amount of $95,000, together with a letter from the insurance provider, explaining that the large increase was caused by a change in federal laws. The invoice could not be paid because the Policefringe benefits appropriation had a balance of only $60,000 (appropriation of $450,000 minus expenditures in item 3 of $390,000). As a result, the village commissioners amended the budget as follows: Increase: Appropriation for policefringe benets $35,000 Decrease: Appropriation for policeisalaries 5,000 Decrease: Appropriation for policesupplies 25,000 Use of fund balance 5,000 5. The village paid the invoice for $95,000, referred to in item 4 above, charging the appropriation for policefringe benefits. 6, The police department placed P0 2019a for firearms in the amount of $30,000 and P0 2019b for uniforms inthe amount of $20,000, all charged to the appropriation for policesupplies. (Enter these POs as one transaction) 7. After receiving P0 2019a, the supplier notified the police department that a change in the design of the weapons would increase the cost to $32,000 The department sent the supplier an amended PO, increasing it by $2,000. 8, The police department received the uniforms ordered on P0 2019b, together with an invoice for $20,000. The department approved the invoice for payment. Record the transactions and events applicable to the appropriations for police fringe benefits and policesupplies in the following appropriations ledgeri NOTES: - Use a negative sign with your answers if: 1.the amount entered in the Appropriation column is a debit (Dr.) rather than a credit (Cra); 0r 2. the amount entered in the Expenditures column is a credit (Cri) rather than a debit (Dri). - In the Available Appropriation column, enter the appropriate balance after every transaction/event even if a transaction isn't recorded in a particular ledger for that transaction. - For Transaction 6, enter both purchase orders (P05) as one combined transactioni Appropriations Ledger Appropriation: Police Jung: benets Appropriation W Emnditures Available Transacon cr. Dr. Cr. Dr. Approprlaon 1 2 3 A i 5 a 7 a Appropriations Ledger Appropriation: Police -suppiies Appropriation W Expenditures Available Transaction Cr. Dr. Cr. Dr. Appropriation 1 2 3 A 5 6 7
