Question

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Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $105,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). C. An $15 million bond was issued to build a new road. d. Cash of $179,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund. e. The truck ordered in (a) is received at an actual cost of $110,050. Payment is not made at this time. f. Cash of $34,300 is transferred from the general fund to the capital projects fund. g. A state grant of $40,000 is received that must be spent to promote recycling h. The first $6,050 of the state grant received in (g) is appropriately expended Answer is not complete. 1 of 2 Next >

Answer 1

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( Special bund Sie Venue Cash 40000 Uneamed gpan evenue (c Special evenueand Unsearned grad 76050 gravenue Reverue (a -60s0 pY) 605O Revenues 6050 Cash (a)