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Microsoft Word- lill final public26,12,2020assignments 19 1 2 ACCOUNTING FOR PUBLIC SECTOR/ 20 points Student name student Number Q1 ( (6 points) The following data relate to supplies during 2018: Supplies inventory 1/1 $12.000 Supplies received: 82.000 Supplies inventory 31/12 $7,000 Make journal entries to record above transactions including adjusting entry and closing entries under consumption method? Purchases method When Supplies received When Supplies used Adjusting ettry3112 Closing entry F5 F6 F? | S $ Microsoft Word - algal 2.0] final public26, 12,2020 assignments 19 les doul 114 27 1 L- 27 blogi Q2: ( 8 points) Some information is missing , you are to determine the missing data. - The city began the year with $30,000 of supplies in inventory and fund balance reserved for encumbrances $14,000 (the government reappropriates outstanding commitments and ended the year with $19,000 of supplies inventory, and the city accounts for supplies on a CONSUMPTION method. (Amounts below are not balances but resulting from journal entries made during year before closing entries were made and the government vouchers all its purchases, and the actual costs of supplies received are as estimated, all revenues are collected in cash) Debits Credits Cash A 62,000 Inventory 77,000 B Actual revenues 0 155,000 Appropriations 0 96,000 Encumbrances C D Expenditures E 0 Reserve for 77,000 encumbrances 77,000 Fund balance F unassigned Fund balance H 0 nonspendable ANSWER FORM Fa FS F6 F8 FO F10 511 F42 Microsoft Word- lill final public26,12,2020assignments 19 1 2 ACCOUNTING FOR PUBLIC SECTOR/ 20 points Student name student Number Q1 ( (6 points) The following data relate to supplies during 2018: Supplies inventory 1/1 $12.000 Supplies received: 82.000 Supplies inventory 31/12 $7,000 Make journal entries to record above transactions including adjusting entry and closing entries under consumption method? Purchases method When Supplies received When Supplies used Adjusting ettry3112 Closing entry F5 F6 F? | S $ Microsoft Word - algal 2.0] final public26, 12,2020 assignments 19 les doul 114 27 1 L- 27 blogi Q2: ( 8 points) Some information is missing , you are to determine the missing data. - The city began the year with $30,000 of supplies in inventory and fund balance reserved for encumbrances $14,000 (the government reappropriates outstanding commitments and ended the year with $19,000 of supplies inventory, and the city accounts for supplies on a CONSUMPTION method. (Amounts below are not balances but resulting from journal entries made during year before closing entries were made and the government vouchers all its purchases, and the actual costs of supplies received are as estimated, all revenues are collected in cash) Debits Credits Cash A 62,000 Inventory 77,000 B Actual revenues 0 155,000 Appropriations 0 96,000 Encumbrances C D Expenditures E 0 Reserve for 77,000 encumbrances 77,000 Fund balance F unassigned Fund balance H 0 nonspendable ANSWER FORM Fa FS F6 F8 FO F10 511 F42