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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
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 $98.750. b. The city print shop did $2.400 worth of work for the school system (but has not yet been paid). c. Arn) $10 million bond was issued at face value to build a new road. d. The city transfers cash of $189.000 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 $101,150. Payment is not made at this time. f. The city transfers cash of $40,900 from its general fund to a capital projects fund. g. The city receives a state grant of $50.000 that must be spent to promote recycling by the citizens. h. The first $8.300 of the state grant received In (g) is expended as intended. Prepare journal entries for the City of Pudding's governmental funds to record the fund financial statements. (Select the appropriate fund for each situation when required. Enter your answers in dollars, not in millions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit Credit Transaction Fund/Activity General Journal a. A new truck for the sanitation department was ordered at a cost of $98,750. Record encumbrances outstanding. b. The city print shop did $2.400 worth of work for the school system (but has not yet been paid). Record amount due to internal service fund. C. A(n) $10 million bond was issued at face value to build a new road. Record sale of bonds. c. d. The city transfers cash of $189,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. Record authorization of transfer for construction. d e. The truck ordered in (a) is received but at an actual cost of $101,150. Payment is not made at this time General Fund Record entry to remove encumbrance. e General Fund Record entry to remove encumbrance. Record receipt of truck f. The city transfers cash of $40,900 from its general fund to a capital projects fund f. Record cash received from general fund to capital project fund. Record transfer in to capital project fund. g. The city receives a state grant of $50,000 that must be spent to promote recycling by the citizens. 9 Record state grant received for promoting recycling. h. The first $8,300 of the state grant received in (g) is expended as intended. Record cash received from the state grant Record the expenditure of the grant for recycling 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 $98.750. b. The city print shop did $2.400 worth of work for the school system (but has not yet been paid). c. Arn) $10 million bond was issued at face value to build a new road. d. The city transfers cash of $189.000 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 $101,150. Payment is not made at this time. f. The city transfers cash of $40,900 from its general fund to a capital projects fund. g. The city receives a state grant of $50.000 that must be spent to promote recycling by the citizens. h. The first $8.300 of the state grant received In (g) is expended as intended. Prepare journal entries for the City of Pudding's governmental funds to record the fund financial statements. (Select the appropriate fund for each situation when required. Enter your answers in dollars, not in millions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit Credit Transaction Fund/Activity General Journal a. A new truck for the sanitation department was ordered at a cost of $98,750. Record encumbrances outstanding. b. The city print shop did $2.400 worth of work for the school system (but has not yet been paid). Record amount due to internal service fund. C. A(n) $10 million bond was issued at face value to build a new road. Record sale of bonds. c. d. The city transfers cash of $189,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. Record authorization of transfer for construction. d e. The truck ordered in (a) is received but at an actual cost of $101,150. Payment is not made at this time General Fund Record entry to remove encumbrance. e General Fund Record entry to remove encumbrance. Record receipt of truck f. The city transfers cash of $40,900 from its general fund to a capital projects fund f. Record cash received from general fund to capital project fund. Record transfer in to capital project fund. g. The city receives a state grant of $50,000 that must be spent to promote recycling by the citizens. 9 Record state grant received for promoting recycling. h. The first $8,300 of the state grant received in (g) is expended as intended. Record cash received from the state grant Record the expenditure of the grant for recycling
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