Prepare entries in general journal form to record the

Assignment Help Financial Accounting

Reference no: EM13377806

Prepare entries in general journal form to record the following transactions in General Fund general ledger accounts for the fiscal year 2012. Please use the modified accrual accounting approach in recording the transactions.

a. The legal budget for the provided for $6,530,000 of estimated revenues and $5,975,000 of appropriations.

b. Assume that are $340,000 of purchase orders outstanding at the end of last fiscal year and these purchase orders will be honored in the current year. Prepare the entries to re-establish the encumbrance.

c. Property taxes were levied in the amount of $4,650,000. It is estimated that 3.5 percent of the taxes will not be collected.

d. Purchase orders were issued for equipment and supplies in the amount of $2,760,000.

Supplies that were relating to all of the prior year purchase orders ($ 340,000) were received along with invoices amounting to $336,800.

Collections of current property taxes amounted to $4,190,000. The uncollected taxes were recorded as delinquent.

Reference no: EM13377806

Questions Cloud

Timmy tyler 52 years old was fired by his employer : timmy tyler 52 years old was fired by his employer university tool and dye. after he was fired timmy received a letter

Apply the concepts calculate and determine the entry for : apply the concepts calculate and determine the entry for straight-line depreciationthe equipment purchased by galaxy

Suppose that france and austrailia both produce fish and : suppose that france and austrailia both produce fish and wine.frances oppurtunity cost of proucing a bottle of wine is

Research erp to determine what its purpose is also : research erp to determine what its purpose is. also determine what problems have been encountered when different

Prepare entries in general journal form to record the : prepare entries in general journal form to record the following transactions in general fund general ledger accounts

Suppose south korea can produce 100 computer chips with 10 : suppose south korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor

Prepare a written assignment to address the following : prepare a written assignment to address the following objectives 1. explain through a real world example of how

Determine cost of landdiscount delivery company acquired an : determine cost of landdiscount delivery company acquired an adjacent lot to construct a new warehouse paying 25000 and

D the energy crisis of the 1970s and again in the : during the energy crisis of the 1970s and again in the last 5 years congress bemoaned the price gouging and

User Account

All Pages