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The following information relates to Dane City during its fiscal year ended December 31, 20X2: 1. On October 31, 20X2, to finance the construction of
The following information relates to Dane City during its fiscal year ended December 31, 20X2: 1. On October 31, 20X2, to finance the construction of a city hall annex, Dane issued 9 percent, 10-year general obligation bonds at their face value of $601,000. Construction expenditures during the period equaled $365,700 Dane reported $110,300 from hotel room taxes restricted for tourist promotion in a special revenue fund. The fund paid $82,000 for general promotions and $24,000 for motor vehicle 3 Dane transferred 20X2 general fund revenues of $105,500 to a debt service fund and used them to repay $96,000 of 10 percent, 14-year term bonds and to pay $9,500 of interest. The bonds were used to acquire a citizens' center 4. At December 31, 20X2, as a consequence of past services, city firefighters had accumulated entitlements for compensated absences of $86,000. General fund resources available at December 31, 20X2, are expected to be used to settle $19,000 of this amount, and $67,000 is expected to be paid out of future general fund resources. 5. At December 31, 20X2, Dane was responsible for $83,000 of outstanding general fund encumbrances, including the $10,000 for supplies in the following table. Dane uses the purchases method to account for supplies. The following information relates to supplies: Inventory-1/1/x2 S 41,000 43,000 5,000 10.000 194.000 181,800 -12/310X2 12/310X2 Purchase orders during 20X2 Amount credited to vouchers payable during 20X2 Required For items 1 through 10, determine the amounts based solely on the preceding information
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