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What is the correct answers for these? The following information relates to Dane City during its fiscal year ended December 31, 20X2: 1. On October

image text in transcribedimage text in transcribedimage text in transcribedWhat is the correct answers for these?

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 10 percent, 8-year general obligation bonds at their face value of $616,000. Construction expenditures during the period equaled $365,000. 2. Dane reported $109,400 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 a motor vehicle. 3. Dane transferred 20X2 general fund revenues of $106,500 to a debt service fund and used them to repay $100,000 of 11 percent, 13-year term bonds and to pay $6,500 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 $85,000. General fund resources available at December 31, 20X2, are expected to be used to settle $17,000 of this amount, and $68,000 is expected to be paid out of future general fund resources. 5. At December 31, 20X2, Dane was responsible for $84,000 of outstanding general fund encumbrances, including the $8,100 for supplies in the following table. 6. Dane uses the purchases method to account for supplies. The following information relates to supplies: Inventory-1/1/X2 -12/31/X2 Encumbrances outstanding-1/1/X2 -12/31/X2 Purchase orders during 20X2 Amount credited to vouchers payable during 20X2 $ 40,000 43,000 5,000 8,100 196,000 182,700 Required: For items 1 through 10, determine the amounts based solely on the preceding information. 3. What is the 20X2 assigned amount of the general fund balance? X Answer is complete but not entirely correct. General fund balance $ 127,000 6. What is the amount of 20x2 debt service fund expenditures? X Answer is complete but not entirely correct. Debt service fund expenditures 106,000

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