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 goods on September 4 would require a: A. Debit Encumbrances—2021, $11,050.
B. Debit Encumbrances Outstanding—2021, $2,188.
C. Credit Encumbrances—2021, $2,190.
D. Credit Encumbrances Outstanding—2021, $2,190.
18. After the first and second receipts of goods and payments for those goods, what would be the amount of available appropriations in the general fund?
A. $2,645,966.
B. $2,645,968.
C. $2,648,156.
D. $2,648,638.
19. If the order was issued on August 14 for medical supplies for public health, the entry to record the receipt of the invoice on August 18 and September 5 would require the following at the governmental activities (government-wide) level (ignore amounts):
A. Debit Expenditures—2021.
B. Debit Expenses—Public Health. C. Debit Vouchers Payable.
D. Debit Expenses—General Fund.
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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...
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...
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