You are an accountant for the city of Springfield record the following transactions
General fund
As one of the accountants for the city of springfield you will record the following transactions into the accompanying workbooks
1. The city levied its general property taxes for the year of 1,580,000 the city estimates that 30,000 of the taxes will prove uncollectible. recor the taxes assuming the city will collect the remaining balance later during the year.
2. The city ocllected 1,300,000 of property taxes before the due date for taxes. The remainder of the taxes receibable become delinquent.
3. The city received and vouchered the materials and supplies that were on order from the previous year. Teh actual cost equaled the estimated cost of these materials and supplies. 19,000 the city records expenditures for materials and supplies when they are consumed. a perpetual inventory system is used.
4. The city incurred and paid salary expenditures as follows:
Accrued salaries payable January...............................150,000
General government................................................180,000
Public safety.........................................................580,000
Highways and streets..............................................175,000
Health and sanitation..............................................150,000
Parks and recreation................................................220,000
Total...............................................................1,355,000
5. billins were received from the central communications network internal service fund for communications services used by general government agencies and departments as follows:
$general government..........................................18,000
Public safety....................................................15,000
Highways and streets...........................................3,500
Health and sanitation............................................6630
Parks and recreation...........................................13,940
Total..............................................................57,070
6. 61,000 was paid on the amounts osed to the central communications network internal service fund.
7. Other unencumbered expenditures incurred during the year were couchered as follows:
General government....................................11,420
Public safety..............................................41,280
Total......................................................52,700
8. 500,000 was loaned from the general fund to the addiction prevention special revenue fund to provide working capital for that fund. The loan is to be repaid within a year.
9. The general fund transferred resources to other funds as follows:
Addiction prevention special revenue fund 60,000
Parks and recreation captial projects fund 200,000
Total 1,059,965
10. The general fund received a transfer of 100,000 from the water and sewer enterprise fund.
11. The city levied interest and penalties of 35,000 on the overdue taxes receivable interest and penalties of 5,600 are epedted to prove uncollectible
12. The city wrote off uncollectible taxes receivable of 23,000 and related interst and penalities of 4,800.
13. Genera governemnt equipment with and original cost of 300,000 and accumultaed deprectiation of 187,000 was sold for 72,000 which was deposited in the general fund.
14. Materials and supplies were used by general fund departments during the year as follows:
General government 11,000
Public safety 35,000
Highways and streets 75,300
Health and sanitation 39,400
Parks and recreation 30,000
Total 190,700
15. The city entered into a capital lease for parks and recreation equipment on december 31. The capitalizable cot of the equipment was 90,000 including a down payment of 10,000
16. The city contributed 60,200 to the city police and fire pension trust fund.
17. The general fund received 250,000 from the addicton prevention special revenue fund in partial repayment of the interfund loan.
18. The city paid vouchers payable of 235,800.