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Problem 16-33 (LO 16-2, 16-6, 16-7) A city orders a new computer for its General Fund at an anticipated cost of $91,700. Its actual cost
Problem 16-33 (LO 16-2, 16-6, 16-7) A city orders a new computer for its General Fund at an anticipated cost of $91,700. Its actual cost when received is $93,810. Payment is subsequently made a. Prepare all required journal entries for both fund and government-wide financial statements. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) X Answer is not complete. Debit Credit Transaction Fund/Activity General Journal 1. Received in the computers and the accompanying liability Government Activities Record the receipt of computers and the accompanying liability Encumbrances control Record payment made. Vouchers payable Cash 2. Received in the payment made for computers. 2 General Fund Record payment made for computers. Cash Vouchers payable Record entry to remove encumbrance for computers that has now been received No journal entry required Cash Record the receipt of computers and the accompanying liability. Fund balance - reserve for encumbrances Vouchers payable Record payment made. Vouchers payable Cash
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