Homework Answers
The entry to record the receipt of the supplies should include a debit to:
a) Encumbrance outstanding of $7,000
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Question 18 2.5pts Acity ordered supplies with an expected cost of $7,000 for the accounting department....
Danville, KY, population 16,735, adopted its general fund budget on July 1 for $2,657,000 for fiscal...
Danville, KY, population 16,735, adopted its general fund budget on July 1 for $2,657,000 for fiscal year 2021. Danville issued purchase orders totaling $11,050 on August 14. Approximately $8,860 of the goods were received on August 17 (receiving report issued), with an invoice of $8,844 received on August 18. Payment for this order was made on August 31. The remaining goods were received on September 4 with an invoice for $2,188 received on September 5. 17. The second receipt of...
What is the journal entry required when a township orders office supplies expected to cost $...
What is the journal entry required when a township orders office supplies expected to cost $ 1000 Correct answer Debit encumbrance. $1000 Credit Reserved for encumbrance $ 1000 Actual question— what if the actual invoice is $ 997.25. What entry/tries must be made. (Government for not profit accounting)
The accounting department for Sea City Maryland maintains an appropriations ledger for its Beautification Department--supplies. The...
The accounting department for Sea City Maryland maintains an appropriations ledger for its Beautification Department--supplies. The ledger shows that the amount appropriated for supplies $85,000. The ledger also shows that three purchase orders were placed, PO A for $15,000, PO B for $21,000, and PO C for $27,000. The flowers ordered on PO A arrived along with an invoice of $15,000. The soil and other supplies ordered on PO B arrived, were inspected, and a voucher was approved and paid...
Danville, KY, population 16,735, adopted its general fund budget on July 1 for $2,657,000 for fiscal...
Danville, KY, population 16,735, adopted its general fund budget on July 1 for $2,657,000 for fiscal year 2021. Danville issued purchase orders totaling $11,050 on August 14. Approximately $8,860 of the goods were received on August 17 (receiving report issued), with an invoice of $8,844 received on August 18. Payment for this order was made on August 31. The remaining goods were received on September 4 with an invoice for $2,188 received on September 5. 13. Which of the following...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous during 2013. Use encumbrances accounting Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department The department received an appropriation allocation of $100.000 (Dr. "Budgetary Fund Balance" to make the entry balance.) b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns and...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous" during 2013. Use encumbrances accounting. Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department: The department received an appropriation allocation of $100,000. (Dr. "Budgetary Fund Balance" to make the entry balance.) a b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns...
then all the same entry transactions but for the Govt. Wide Fin. Stmt. Chei Prepare journal...
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
Chei 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 $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). C. An $11 million bond...
please help me correct my mistakes Prepare journal entries for the City of Pudding's governmental funds...
please help me correct my mistakes
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....
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this...
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this merchandise was received on September 5, 2009 On September 6, 2009, an invoice dated September 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. On September 10, 2009, $800 of the merchandise was returned to the seller. 4. Based on the above information, what would the journal entry for September 10, 2009 include? O...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first...
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...
Part V. Appropriations/Eneumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous during 2013. Use encumbrances accounting Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department The department received an appropriation allocation of $100.000 (Dr. "Budgetary Fund Balance" to make the entry balance.) b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns and...
Part V. Appropriations/Encumbrances/Expenditures The City of Arcadia Police Department gets an annual appropriation from the City for "Weapons and Miscellaneous" during 2013. Use encumbrances accounting. Prepare General fund journal entries to record the following transactions related to the appropriation received by the Police Department: The department received an appropriation allocation of $100,000. (Dr. "Budgetary Fund Balance" to make the entry balance.) a b. The department issued a purchase order for $8,000 for new handguns. C. The vendor sent the handguns...
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
Chei 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 $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). C. An $11 million bond...
please help me correct my mistakes
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....
1. 2. 3. $7,000 of merchandise inventory was ordered on September 2, 2009 $3,000 of this merchandise was received on September 5, 2009 On September 6, 2009, an invoice dated September 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. On September 10, 2009, $800 of the merchandise was returned to the seller. 4. Based on the above information, what would the journal entry for September 10, 2009 include? O...
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...
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