Using the data in the Option 1 Spreadsheet (linked at the bottom of the page), perform the accounting required for each of the following government fund transactions:

1. Government levied $2,000,000 of General Fund Property tax for the fiscal year with an estimated uncollectible amount of $400,000.

2. The General Fund paid $350,000 on the vouchers payable that were outstanding at the end of FY 2013.

3. The General Fund paid the $13,000 reported as Due to Other Funds at the end of FY 2013. This amount was reported as Internal Payables to Business-type Activities at the government-wide level.

Assume that it is Tax Year 2014. Complete the yellow area for the General Fund only.

Perform the required journal entries:

 

  

1 2 3 4 5 69 00 9 10 11 12 13 14 19 20 21 22 23 # 24 25 26 27 28 29 30 31 32 33 34 35 36 1 Transaction Government levied $2,000,000 of General Fund Property tax for the fiscal year with an estimated uncollectible amount of $400,000. The General Fund paid $350,000 on the vouchers payable that were 2 outstanding at the end of FY 2013. Cash Taxes Receivable-Current 15 Estimated Uncollectible Current Taxes 16 Taxes Receivable-Delinquent 17 Estimated Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes 18 Estimated Uncollectible Interest and Penalties The General Fund paid the $13,000 reported as Due to Other Funds at the 3 end of FY 2013. This amount was reported as Internal Payables to Business -type Activities at the government-wide level. Assume that it is Tax Year 2014. Complete the yellow area for the General Fund only. Chart of Accounts for General Fund Due from Other Funds Due from State Government Inventory of Supplies Vouchers Payable Tax Anticipation Notes Payable Due to Other Funds. Due to Federal Government Due to State Government Account Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Restricted-General Government Fund Balance-Restricted-Public Safety Fund Balance-Restricted-Public Works Fund Balance-Restricted-Health and Welfare Fund Balance-Restricted-Culture and Recreation Fund Balance-Committed-General Government Fund Balance-Committed-Public Safety Fund Balance-Committed-Public Works Fund Balance-Committed-Health and Welfare Fund Balance-Committed-Culture and Recreation Fund Balance-Assigned-General Government Fund Balance-Assigned-Public Safety Fund Balance-Assigned-Public Works Fund Balance-Assigned-Health and Welfare Fund Balance-Assigned-Culture and Recreation Fund Balance-Unassigned Budgetary Fund Balance Encumbrances Outstanding Estimated Revenues Revenues Appropriations Estimated Other Financing Uses-Interfund Transfers Out Expenditures Other Financing Uses-Interfund Transfers Out DR CR