Bus-Fpx4063 assessment 5 attempt 1

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gener a rullu neverve rullu TULOA Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Fund balance beginning of year Excess of revenues and other sources over (under) expenditures and other uses Fund balance end of year Additional information: $ 284,000 29,700 4,800 $ 20,100 318,500 20,100 $ 284,000 49,800 4,800 338,600 145,500 22,500 14,100 159,600 22,500 115,000 115,000 5,000 7,800 5,000 7,800 $ 295,800 $ 14,100 $ 309,900 22,700 6,000 28,700 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 53,400 13,700 67,100 24,200 8,200 32,400 $ 77,600 $ 21,900 $ 99,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis…

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…

Help me with this entry Journal entries for an Internal Service Fund The following transactions occurred regarding the Central Purchasing Fund, an Internal Service Fund.1. The General Fund transferred $160,000 as a capital contribution to establish the fund.2. The Central Purchasing Fund bills $320,000 for services it provided to other funds.3. The Central Purchasing Fund incurred depreciation expense of $80,000 and paid$400,000 in operating expenses.4. The General Fund subsidized the operations of the Purchasing Fund by transferring anadditional $160,000 to the fund.For each transaction, record the entry, if any, for each Fund. If no entry is required, select 'No debit (or credit) entry required' in the account field and enter 0 or leave the debit and credit fields blank.

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The following events take place: 1. 2. 3. James Smith died and left 100 acres of undeveloped land to the city for a future park. He acquired the land at $100 an acre, but at the date of his death, the land was appraised at $7,200 an acre. The city authorized the transfer of $110,000 of general revenues and the issuance of $1,050,000 in general obligation bonds to construct improvements on the donated land. The bonds were sold at par. The improvements were completed at a cost of $1,160,000, and the operation of the park was turned over to the City Parks Department. Prepare entries in general journal form to record these transactions in the proper fund(s). Designate the fund in which each transaction is recorded. If the transaction did not result in a journal entry to a government fund, record the journal entry needed to reflect the information in the government-wide Statement of Net Position. (Credit account titles are automatically indented when amount is entered. Do not indent…

Using the Balance Sheet in the St. Johns County, Florida 2015 CAFR calculate the following ratios for each of the five (5) funds shown and for the “Total Governmental Funds:”a. Current Ratiob. Net Working Capitalc. Debt Ratio 1d. Debt Ratio 2e. Unrestricted Net Assets Ratiof. Response RatioReconciliation of the Governmental Funds Balance Sheetto the Statement of Net Position September 30, 2015Total fund balances- governmental funds $ 157,315,850Amounts reported for governmental activities in the statement of netposition are different because:Capital assets used in governmental activities are not current financialresources and therefore are not reported in the governmental funds. 1,241,213,205Net OPEB obligations are created through the estimated calculation of the county'semployer contribution toward the retiree's benefits. The amount greater or less than the 5,549,497annual required contribution is posted as an asset/(liability).Deferred outflows for bond refunding losses are…

Exercise E10-1 1-10, please. Thank you.

Prepare the journal entries for the following transactions to consolidate financial statements from fund-level statements to government-wide statements. 1....An internal service fund had a loss of $50 2.....An internal service fund had interest expense of $30

All oI toe above are 3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for S500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account should be revenues. recorded in the General fund journal as: a) Debit in 500$. b) Credit in 500$. c) Credit in 7500$. d) Gain on sale of equipment account will not recorded in general fund journal. الولايات المتحدة الأمريكية( hp

Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2019: City of Tallahassee General Fund City of Tallahassee General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance Balance Sheet (in thousands) Assets: Cash and cash equivalents $2,480 Due from other governments All other assets 11,848 Total assets $14,328 Liabilities: Total current liabilities $11,287 Fund balance: Nonspendable 1,500 Committed 0 Assigned 0 Unassigned 1,541 Total fund balance 3,041 Total liabilities and fund balance $14,328 (in thousands) Total revenues $109,901 Total expenditures 164,473 Excess of revenues over (under) expenditures 54,572 Other financing sources (uses): Transfers in 49,597 Transfers out -21,522 Proceeds from sale of capital assets 430 Total other financing sources (uses) 28,505 Net change in fund balance -26,067 Fund balance, October 1, 2019 Fund balance, September…

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The Balance Sheet of the Street and Highway Fund of the City of Monroe as of December 31, 2019, follow.  CITY OF MONROE Street and Highway Fund Balance Sheet As of December 31, 2019 Assets Cash $ 19,000   Investments   63,000   Due from state government   107,000   Total assets $ 189,000   Liabilities and Fund Equity Liabilities:       Accounts payable $ 10,000   Fund equity:       Fund balance—assigned for streets and highways   179,000   Total liabilities and fund equity $ 189,000      3-C. This portion of the continuous problem continues the special revenue fund example by requiring the recording and posting of the budgetary entries. To reduce clerical effort required for the solution use control accounts for the budgetary accounts, revenues, expenditures and encumbrances. Subsidiary accounts are not required. Budget information for the City includes: (1) Also as of January 1, 2020, the City Council approved and the mayor signed a budget for the…

Prepare a preclosing trial balance for the General Fund as of December 31, 2021.

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…

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Indicate (i) how each of the following transactions impacts the fund balance of the general fund, and its classifications, for fund financial statements and (ii) what impact each transaction has on the net position balance of the Government Activities on the government-wide financial statements.a. Issue a five-year bond for $6 million to finance general operations.b. Pay cash of $149,000 for a truck to be used by the police department.c. The fire department pays $17,000 to a government motor pool that services the vehicles of only the police and fire departments. Work was done on     several department vehicles.                  d. Levy property taxes of $75,000 for the current year that will not be collected until four months into the subsequent year.e. Receive a grant for $7,000 that must be returned unless the money is spent according to the stipulations of the conveyance. That is expected to happen in the future.f. Businesses make sales of $20 million during the current year. The…

Using the Balance Sheet in the St. Johns County, Florida 2015 CAFR calculate the following ratios for each of the five (5) funds shown and for the “Total Governmental Funds:”a. Current Ratiob. Net Working Capitalc. Debt Ratio 1d. Debt Ratio 2e. Unrestricted Net Assets Ratiof. Response Ratio

For each of the following accounts indicate in which fund type it could be found. Select your answer from the following responses:   A.    Governmental funds only. B.    Proprietary funds only.       Bond Proceeds   Long Term liability for Compensated Absences   Deferred Inflows/Outflows of Resources   Taxes Receivable   Estimated Revenues     Operating Revenues

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