Template-Assignment 2(2)

Required information Exercise 6-4 and Exercise 6-5 (Algo) [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Exercise 6-4 (Algo) $ Debits 31,900 55,500 732,000 99,500 509,000 53,500 18, 200 41,400 Credits $ 117,000 35,100 53,500 13,900 579,000 6,200 128,500 628,500 20,700 $1,561,700 $1,561,700 Required: a. Prepare the closing entries for December 31. b. Prepare…

For each of the following transactions, determine the correct debit account from among the choices below: A.     Expenditures B.     Encumbrances C.     Property, Plant, and Equipment (Capital Assets) D.     Expenses E.     Appropriations F.     Other Financing Uses-Transfers Out G.    Extraordinary Item H.     Special Items I.        Liabilities J.      Answer not included in the above selections   A proprietary fund signs a contract to build an office building with Do Good Construction for $10,000,000 Answer 1 Question 3 A proprietary fund makes a currently due principal payment on Bonds Payable Answer 2 Question 3 A proprietary fund recognizes and pays an interest payment that is currently due Answer 3 Question 3 A proprietary fund spends $5,000,000 of a capital grant for construction of a parking garage. Assume eligibility has been met Answer 4 Question 3 A city’s water supply in a proprietary fund is contaminated by terrorists. Cost of clean up, disposal and…

https://portal.laserfiche.com/Portal/DocView.aspx?id=638006&repo=r-49e9e584 1. Who is the CPA firm that audited Jefferson City, Missouri in October 31, 2022?2. The type of audit opinion given Jefferson City, Missouri at October 31, 2022?3. What 3 categories of funds does Jefferson City have?4. Which program in Jefferson City has the largest expenses?5. What is the largest source of revenue in Jefferson City for governmental activities?6. What was the October 31, 2022 net position of the airport fund?7. In the October 31, 2022 Statement of Activities how many years of financial information is presented?8. Does Jefferson City have any discretely presented component units? What are they?9. What entities were excluded from Jefferson Cities financial reports?10. Does Jefferson City include Cash Equivalents with its Cash balance?11. What is the threshold amount for capitalizing an asset for depreciation purposes?12. Over what amount of years are traffic lights depreciated?13. List one…

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Subject : Accounting

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Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits Adjustments: $ 29,400 53,000 VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 722,000 98,000 504,000 51,000 17,700 40,900 19,700 $ 1,535,700 Credits $ 112,000 32,600 51,000…

3 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund.   Debits Credits Accounts payable   $ 108,000 Accounts receivable $ 27,400   Accrued interest payable   30,600 Accumulated depreciation   49,000 Administrative and selling expenses 51,000   Allowance for uncollectible accounts   13,000 Capital assets 714,000   Cash 96,800   Charges for sales and services   561,000 Cost of sales and services 500,000   Depreciation expense 49,000   Due from General Fund 17,300   Interest expense 40,500   Interest revenue   5,300 Transfer in from General Fund   117,600 Bank note payable   630,400 Supplies inventory 18,900   Totals $ 1,514,900 $ 1,514,900   Required: Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at…

3 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund.   Debits Credits Accounts payable   $ 108,000 Accounts receivable $ 27,400   Accrued interest payable   30,600 Accumulated depreciation   49,000 Administrative and selling expenses 51,000   Allowance for uncollectible accounts   13,000 Capital assets 714,000   Cash 96,800   Charges for sales and services   561,000 Cost of sales and services 500,000   Depreciation expense 49,000   Due from General Fund 17,300   Interest expense 40,500   Interest revenue   5,300 Transfer in from General Fund   117,600 Bank note payable   630,400 Supplies inventory 18,900   Totals $ 1,514,900 $ 1,514,900   Required: Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the…

4. The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits $32,000 47,000 712,000 89,000 479,000 45,000 17,000 40,000 18,000 $1,479,000 Credits $ 96,000 28,000 45,000 12,000 550,000 4,000 119,000 625,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the…

! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Required A Required B Complete this question by entering your answers in the tabs below. Required C VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2024 Net Position: Net Investment in Capital Assets Unrestricted Total Net Position Debits Required: a.…

! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Debits $ Credits 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 18,000 4,000 119,000 625,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of…

Recording journal entries for nonprofits Prepare journal entries to record the following transactions. 1. Donor A gave the nonprofit a cash gift of $50,000 in June 2019, telling the nonprofit the gift could not be used until 2020. (Identify the affected net asset classification(s) in the journal entries made both in June 2019 and at the start of 2020.) 2. Attorney Howard Gorman volunteered his services to Taconic Singers, a nonprofit. He spent 12 hours preparing contracts for the services of professional singers and 8 hours serving as an usher before performances. Gorman normally gets $200 an hour for legal services, and Taconic normally pays $8 an hour when it hires ushers. 3. Donor B sent a letter to a nonprofit, saying she would donate $20,000 in cash to the nonprofit, to be used for any purpose the nonprofit's trustees desired, provided the nonprofit raised an equal amount of cash from other donors. 4. Regarding the previous transaction, the nonprofit raised $23,000 in cash from…

Prepare a one-page memo for a client organization to explain the purpose of a capital funds project as well as your findings from the statement of revenues, expenditures, and changes in fund balance from that project.

Can you complete the requirements listed below to this question please?   Requirement 1 --- prepare a contribution income statement in good form --- include/list all individual VC and FC Requirement 2 --- calculate all requested values a thru d REQUIRED:   Calculations required for Requirement 2 values a thru d.

Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a private not-for- profit entity that operates in Missouri. The leaders of these two organizations have decided to combine forces on January 1, 2020, in order to have a bigger impact from their work. They are currently discussing ways by which this combination can be created. The following are statements of financial position for both charities at that date. HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash $1,800,000 110,000 400,000 800,000 $3,110,000 Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities $210,000 1,200,000 $1,410,000 Net Assets $1,300,000 400,000 $1,700,000 $3,110,000 Net assets without donor restrictions Net assets with donor restrictions Total net assets Total liabilities and net assets SWIM FOR SAFETY Statement of Financial Position January…

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Prepare the journal entries for the following transactions to consolidate financial statements from fund-level statements to government-wide statements. 1....Beginning accumulated depreciation was $500. 2....Depreciation during the year was $169 3....Beginning compensated absences was 500.

Prepare journal entries to record the following events using the general fund and the general fixed assets account group: a. The general fund vouchered the purchase of trucks for $80,000. The purchase had been encumbered earlier in the year at $75,000. b. Several years ago, equipment costing $15,000 was acquired with general fund revenues. It was sold for $6,000, with proceeds belonging to the general fund. c. Early in the year, a citizen donated to the city land appraised at $100,000. She submitted plans for a new library and agreed to cover the total cost of construction, paying the company directly as work proceeded. At year-end, the building was two-thirds finished, with costs to date of $300,000. The expenditures are recorded in a capital projects fund. d. A snow plow was purchased with general fund cash for $92,000, which represented a cost of $110,000 less trade-in of $18,000 for an old snow plow originally purchased for $66,000 from special revenue funds. As an emergency…

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Miscellaneous scenarios requiring journal entries The following transactions and events pertain to Bean County’s General Fundfor the calendar year 2022:1. The entity receives invoices in early January 2023 for $25,000 for professional servicesobtained in 2022, and $32,000 for December 2022 utility services.2. The entity borrows $500,000 on August 1, 2022, in anticipation of thecollection of property taxes. The borrowed amount is due to be repaid onJanuary 31, 2023, with interest at the rate of 1.5 percent per annum.3. The entity invests $300,000 cash in a CD on November 1, 2022, at an interest rateof 1 percent per annum. The CD will mature on January 31, 2023.4. In September 2022, the entity receives and accepts supplies that had beenordered in August. The amount that had been encumbered was $40,000,but the amount of the approved invoice was $42,000.Prepare journal entries for the transactions and events listed above.Enter 0 or leave the field blank if no entry is required for calendar…

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Please answer the questions in the following two photos. Thank you

A citizen group raised funds to established an endowment for the Eastville City Liabrary. Under the terms of the trust agreement, the principal must be maintained, but the earnings of the fund are to be used to purchase database and periodical subscriptions for the library. A preclosing trial balance of the library permanant fund follows: Debits: Cash $7,500; Investments $630,000; Expenditures - subscriptions $39,500 Accrued interest receivable $2,000 Credits: Additions to permanant endowments $625,000; Investment Income $48,000; Net increase in fair value of investments $5,000; Accounts Payable    Required: A. Prepare any closing entries necessary at year-end b. prepare a Statement of Revenuess, Expenditures, and Changes in Fund Balance for the library Permanant fund. c. Prepare a balance sheet for the library permamant fund (use restricteed to Library for any spendable fund balance)

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