[Para. 4-a-6] Invoices for some of the goods recorded as encumbrances in transaction 4-a-2 were received and vouchered for later payment, as listed below. Related encumbrances were canceled in the amounts shown (select “Elimination" in the drop down [Description] menu in the Detail Journal): Expenditures Encumbrances S 191,709 S 191,720 442,870 208,320 153,822 141,990 $1.138.711 $1.138.720 General Government Public Safety Public Works Health and Welfare Culture and Recreation 442,900 208,300 153,800 142,000 Total Required: Record the receipt of these goods and the related vouchers payable in both the General Fund and governmental activities journals. At the government-wide level, you should assume the city uses the periodic inventory method. Thus, the invoiced amounts above should be recorded as expenses of the appropriate functions, except that $38,340 of the amount charged to the Public Works function was for a vehicle and $43,570 of the amount charged to the Culture and Recreation function was for recreation equipment (debit Equipment for these items at the government-wide level).
[Para. 4-a-6] Invoices for some of the goods recorded as encumbrances in transaction 4-a-2 were received and vouchered for later payment, as listed below. Related encumbrances were canceled in the amounts shown (select “Elimination" in the drop down [Description] menu in the Detail Journal): Expenditures Encumbrances S 191,709 S 191,720 442,870 208,320 153,822 141,990 $1.138.711 $1.138.720 General Government Public Safety Public Works Health and Welfare Culture and Recreation 442,900 208,300 153,800 142,000 Total Required: Record the receipt of these goods and the related vouchers payable in both the General Fund and governmental activities journals. At the government-wide level, you should assume the city uses the periodic inventory method. Thus, the invoiced amounts above should be recorded as expenses of the appropriate functions, except that $38,340 of the amount charged to the Public Works function was for a vehicle and $43,570 of the amount charged to the Culture and Recreation function was for recreation equipment (debit Equipment for these items at the government-wide level).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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