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what the journal entries under government accounting 1. The district levied wees $300, of which it collected $ 250. It expects to collect the remaining
what the journal entries under government accounting
1. The district levied wees $300, of which it collected $ 250. It expects to collect the remaining $50 shortly after year end. The taxes are unrestricted as to how they may be used 2.It incurred S 240 in general operating expenditures, of which it pays $ 170. But issues long term bonds of $500. The bonds must be used to finance the acquisition of recreational facilities 4. The district acquires S400 of recreational facilities using the resources available in the capital Projects Fund. 5. The bond agreement requires that the district periodically set aside funds to repay the principal of the debt. The district transfers $40 from the General Fund to the fund specially created to account for resources restricted for debt service 6. The repair service which is accounted for in an internal service fund, acquires $10 of equipment, lving a long term note in exchange 7.The repair service bills the district's other departments 515 and collects the full amount in cash. The other departments are all accounted for in the General Fund. a. The service incurs cash operating expenses of 5 12. 1. The district levied wees $300, of which it collected $ 250. It expects to collect the remaining $50 shortly after year end. The taxes are unrestricted as to how they may be used 2.It incurred S 240 in general operating expenditures, of which it pays $ 170. But issues long term bonds of $500. The bonds must be used to finance the acquisition of recreational facilities 4. The district acquires S400 of recreational facilities using the resources available in the capital Projects Fund. 5. The bond agreement requires that the district periodically set aside funds to repay the principal of the debt. The district transfers $40 from the General Fund to the fund specially created to account for resources restricted for debt service 6. The repair service which is accounted for in an internal service fund, acquires $10 of equipment, lving a long term note in exchange 7.The repair service bills the district's other departments 515 and collects the full amount in cash. The other departments are all accounted for in the General Fund. a. The service incurs cash operating expenses of 5 12 Step by Step Solution
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