Question
Problem 4: Matching transactions with funds Indicate which fund or funds would be used by the State of Illinois to record each of the
Problem 4: Matching transactions with funds Indicate which fund or funds would be used by the State of Illinois to record each of the following events. Use the codes shown below for each fund type (remember, some events affect more than one fund). General Fund GF Pension Trust Fund PTF Special Revenue Fund SRF Custodial Fund CF Debt Service Fund DSF Internal Service Fund ISF Capital Projects Fund CPF Enterprise Fund EF Events for the State of Illinois (you can use the abbreviations for each fund in your answers): 1. The $1,500,000 in transaction (6) was used to pay interest of $50,000 and principal of $1,450,000 on the general obligation serial bonds. 2. The State office of general services performs centralized printing services for all State agencies, and bills the State agencies at cost for each printing project. The office of general services sent a bill for $5,000 to Susana Mendoza, the State Comptroller, for printing the State's Comprehensive Annual Financial Report. The State Comptroller's office, which is part of executive branch of State government, paid the bill. 3. The State paid the regular bi-weekly payroll of $14,000,000 to (A) employees who work for the State's major operating fund ($12,500,000) and to (B) employees who maintain the State's roads and highways referred to in transaction (2) ($1,500,000). 4. The State Employees Retirement System {ERS} received $10,000,000 from the State's major operating fund.
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