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Specieu al vuels were pe parcu II paymeil. Tell, ule HIVUICCS were palu. P4-34. Transactions and financial statements) The trustees of the Ketzel Park Special

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Specieu al vuels were pe parcu II paymeil. Tell, ule HIVUICCS were palu. P4-34. Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2019 $260,000 $400,000 Estimated Revenues General admissions fees ......... Admissions fees (big cat zoo).......... Appropriations Parks and recreation salaries............ Parks and recreation supplies.............. Parks and recreation cat food.............. Budgeted Increase in Fund Balance......................... $280,000 40,000 60,000 380,000 $ 20,000 Transactions and events for calendar year 2019 were as follows: 1. Recorded the approved budget for the year. Chapter 4 An Introduction to General and Special Revenue Funds 2. Collected $250,000 in general admissions fees and $160,000 in big cat zoo admissions fees during the year. 3. Ordered supplies for $38,000 4. All supplies ordered in the previous transaction arrived, together with an invoice for $37,000. The invoice was approved for payment, but was not paid during the year. 5. The Ketzel Park trustees approved a $10,000 increase in the cat food appropriation. 6. During the year, salaries were paid in the amount of $270,000. Also, at year-end, an accrual of $9.000 was made for salaries earned but not paid. 7. Cat food in the amount of $68,000 was ordered, paid for, and consumed. (Purchase orders for cat food are not prepared. Record the liability for receipt of the food and the payment.) P4-35. LO 3 NIKE Use the preceding information to do the following: a. Prepare journal entries to record the foregoing transactions and events. b. Prepare a statement of revenues, expenditures and changes in fund balance. (Assume that the begin- ning fund balance was SO.) c. Prepare a balance sheet. Assume that the fund balance is classified as Committed. d. Prepare a budgetary comparison schedule. (Encumbrance and expenditure accounting) The city council made an appropriation to the police department of S95.000 for the purchase of supplies, equipment, and vehicles. The following transactions and events occurred regarding this appropriation. Prepare an appropriations ledger, using columns for Encumbrances (Dr. and Cr.), Expenditures, and Available Balance. Then, prepare journal entries to record the transactions and events. Post the appro- priation amount and the journal entries to the appropriations ledger. Charge all expenditures to Supplies and equipment. Make sure your final posting shows the remaining amount available for spending. 1. The department placed purchase order (PO) I for 5 motorcycles, estimated to cost $10,000 cash. 2. The department placed PO 2 for crime prevention supplies at an estimated cost of $30.000, 3. The motorcycles ordered in PO I arrived in good condition. The invoice of $50,000 was approved for payment. 4. PO 3 was placed for radio equipement at an estimated cost of $10.000 The supplies ordered in PO 2 arrived, along with an invoice for $32.000. The invoice was approved for payment T u rimentobained a check the finance directora 250mle out to a locali chase a new firearm for $250 on an emergency basis no purchase order had been placed (Encumbrance and expenditure accounting) Council appropriated $80,000 to the parks department for the purchase of shrub a od small items of equipment. The following transactions and events occurred regardine this Dunare an appropriations ledger, using columns for Encumbrances (De and CELE appropriation Rence. Then, prepare journal entries to record the transactions and events. Post ditures, and Available Balance. Then. propriated and the journal entries to the appropriations ledper. Charge alleen ditu Make sure your final posting shows the remaining amount available for Supplies. Make sure your ima postings placed purchase order (PO) for trees and shrubs at an estimated cost 2. The departe red PO 2 for small tools at an estimated cost of $30.00 $95.000 din good condition along with an invoice for $27.000. The invoice was forwarded to the comptroller for payment 4. The comptroller paid the invoice for $27.00 cessary to acquire 2 chain immediately. After calline the local LO 3 3. The items in PO I arrived in good conditio A ccrocy be price, the parks perintendent get a check for $450 from the finansom suppliers to get the best price, the parks missioner and picked up the chainsaws. P4-37. ration of Preth Decemb statements and interpretation of operating results 2019 al balance for Radnor City's General Fund. Based on this info e ve expenditures, and changes in fund balance, 2) a balance sheet o schedule. Cand the fund balance as assigned. Then examine the write a short paragraph explaining the results of the year's opera Below is the December 31, 2019 trial balance for R tion, prepare ( a statement of revenues and (3) a budgetary comparison schedule, badetary comparison schedule and write tions in relation to the budget LO 4 und haben Specieu al vuels were pe parcu II paymeil. Tell, ule HIVUICCS were palu. P4-34. Transactions and financial statements) The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2019 $260,000 $400,000 Estimated Revenues General admissions fees ......... Admissions fees (big cat zoo).......... Appropriations Parks and recreation salaries............ Parks and recreation supplies.............. Parks and recreation cat food.............. Budgeted Increase in Fund Balance......................... $280,000 40,000 60,000 380,000 $ 20,000 Transactions and events for calendar year 2019 were as follows: 1. Recorded the approved budget for the year. Chapter 4 An Introduction to General and Special Revenue Funds 2. Collected $250,000 in general admissions fees and $160,000 in big cat zoo admissions fees during the year. 3. Ordered supplies for $38,000 4. All supplies ordered in the previous transaction arrived, together with an invoice for $37,000. The invoice was approved for payment, but was not paid during the year. 5. The Ketzel Park trustees approved a $10,000 increase in the cat food appropriation. 6. During the year, salaries were paid in the amount of $270,000. Also, at year-end, an accrual of $9.000 was made for salaries earned but not paid. 7. Cat food in the amount of $68,000 was ordered, paid for, and consumed. (Purchase orders for cat food are not prepared. Record the liability for receipt of the food and the payment.) P4-35. LO 3 NIKE Use the preceding information to do the following: a. Prepare journal entries to record the foregoing transactions and events. b. Prepare a statement of revenues, expenditures and changes in fund balance. (Assume that the begin- ning fund balance was SO.) c. Prepare a balance sheet. Assume that the fund balance is classified as Committed. d. Prepare a budgetary comparison schedule. (Encumbrance and expenditure accounting) The city council made an appropriation to the police department of S95.000 for the purchase of supplies, equipment, and vehicles. The following transactions and events occurred regarding this appropriation. Prepare an appropriations ledger, using columns for Encumbrances (Dr. and Cr.), Expenditures, and Available Balance. Then, prepare journal entries to record the transactions and events. Post the appro- priation amount and the journal entries to the appropriations ledger. Charge all expenditures to Supplies and equipment. Make sure your final posting shows the remaining amount available for spending. 1. The department placed purchase order (PO) I for 5 motorcycles, estimated to cost $10,000 cash. 2. The department placed PO 2 for crime prevention supplies at an estimated cost of $30.000, 3. The motorcycles ordered in PO I arrived in good condition. The invoice of $50,000 was approved for payment. 4. PO 3 was placed for radio equipement at an estimated cost of $10.000 The supplies ordered in PO 2 arrived, along with an invoice for $32.000. The invoice was approved for payment T u rimentobained a check the finance directora 250mle out to a locali chase a new firearm for $250 on an emergency basis no purchase order had been placed (Encumbrance and expenditure accounting) Council appropriated $80,000 to the parks department for the purchase of shrub a od small items of equipment. The following transactions and events occurred regardine this Dunare an appropriations ledger, using columns for Encumbrances (De and CELE appropriation Rence. Then, prepare journal entries to record the transactions and events. Post ditures, and Available Balance. Then. propriated and the journal entries to the appropriations ledper. Charge alleen ditu Make sure your final posting shows the remaining amount available for Supplies. Make sure your ima postings placed purchase order (PO) for trees and shrubs at an estimated cost 2. The departe red PO 2 for small tools at an estimated cost of $30.00 $95.000 din good condition along with an invoice for $27.000. The invoice was forwarded to the comptroller for payment 4. The comptroller paid the invoice for $27.00 cessary to acquire 2 chain immediately. After calline the local LO 3 3. The items in PO I arrived in good conditio A ccrocy be price, the parks perintendent get a check for $450 from the finansom suppliers to get the best price, the parks missioner and picked up the chainsaws. P4-37. ration of Preth Decemb statements and interpretation of operating results 2019 al balance for Radnor City's General Fund. Based on this info e ve expenditures, and changes in fund balance, 2) a balance sheet o schedule. Cand the fund balance as assigned. Then examine the write a short paragraph explaining the results of the year's opera Below is the December 31, 2019 trial balance for R tion, prepare ( a statement of revenues and (3) a budgetary comparison schedule, badetary comparison schedule and write tions in relation to the budget LO 4 und haben

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