During the current year, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city: General Government$171,200 Public Safety 309,000 Public Works 231,400 Culture and Recreation 188,700 Health and Welfare 175,100 Miscellaneous 25,300 Total$1,100,700 All goods ordered during the year were received at the following actual costs: General Government$166,800 Public Safety 308,700 Public Works 233,800 Culture and Recreation 188,700 Health and Welfare 178,300 Miscellaneous 27,000 Total$1,103,300 Requireda.&b. Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.

Answered: During the current year, the City of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

During the current year, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city:


General Government	$	171,200
Public Safety		309,000
Public Works		231,400
Culture and Recreation		188,700
Health and Welfare		175,100
Miscellaneous		25,300
Total	$	1,100,700

All goods ordered during the year were received at the following actual costs:


General Government	$	166,800
Public Safety		308,700
Public Works		233,800
Culture and Recreation		188,700
Health and Welfare		178,300
Miscellaneous		27,000
Total	$	1,103,300

Required

a.&b. Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.

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