Preparation of appropriations ledger The following transactions and events occurred in Marilyn County during calendar year 2019: 1. The legislature adopted the following budget: Estimated revenues and other sources: Property taxes $1,740,000 Sales taxes 1,000,000 Use of fund balance 10,000 Total $2,750,000 Appropriations: General government—salaries $ 420,000 General government—supplies 30,000 Parks department—salaries 2,000,000 Parks department—plants and supplies 300,000 Total $2,750,000 2. The Parks department placed PO 2019-1 for shrubbery in the amount of $52,000 and PO 2019-2 for gardening supplies in the amount of $11,000. The orders were charged to the appropriation for Parks department—plants and supplies. 3. The supplier delivered the shrubbery ordered on PO 2019-1; however, the supplier said he could not deliver some of the shrubs because he no longer carried them. The invoice for $49,000 was approved and forwarded to the comptroller’s office for payment; the rest of the order ($3,000) was cancelled. 4. The supplier delivered the gardening supplies ordered on PO 2019-2. She sent an invoice for $11,200 because some of the items were of a higher quality than ordered. The Parks department accepted the entire delivery and forwarded the invoice for payment. 5. Based on a mid-year review of economy, the finance director concluded that sales tax revenues would be less than the original estimate. As a result, the legislature amended the budget, reducing the sales tax estimate by $50,000 and the Parks department—plants and supplies appropriation by $35,000. Record the transactions and events applicable to the appropriation for Parks department—plants and supplies in the following appropriations ledger. NOTE: Use a negative sign with your answers if: 1. the amount entered in the Appropriation column is a debit (Dr.) rather than a credit (Cr.); or 2. the amount entered in the Expenditures column is a credit (Cr.) rather than a debit (Dr.). Appropriations Ledger Appropriation: Parks department plants and supplies Appropriation Encumbrances Expenditures Available Item Cr. Dr. Cr. Dr. Appropriation 1 Budget Answer Answer Answer Answer Answer 2 PO 2019-1 Answer Answer Answer Answer Answer PO 2019-2 Answer Answer Answer Answer Answer 3 PO 2019-1 Answer Answer Answer Answer Answer PO 2019-1 Exp Answer Answer Answer Answer Answer 4 PO 2019-2 Answer Answer Answer Answer Answer PO 2019-2 Exp Answer Answer Answer Answer Answer 5 Budget Rev Answer Answer Answer Answer Answe

Preparation of appropriations ledger The following transactions and events occurred in Marilyn County during calendar year 2019: 1. The legislature adopted the following budget: Estimated revenues and other sources: Property taxes $1,740,000 Sales taxes 1,000,000 Use of fund balance 10,000 Total $2,750,000 Appropriations: General government—salaries $ 420,000 General government—supplies 30,000 Parks department—salaries 2,000,000 Parks department—plants and supplies 300,000 Total $2,750,000 2. The Parks department placed PO 2019-1 for shrubbery in the amount of $52,000 and PO 2019-2 for gardening supplies in the amount of $11,000. The orders were charged to the appropriation for Parks department—plants and supplies. 3. The supplier delivered the shrubbery ordered on PO 2019-1; however, the supplier said he could not deliver some of the shrubs because he no longer carried them. The invoice for $49,000 was approved and forwarded to the comptroller’s office for payment; the rest of the order ($3,000) was cancelled. 4. The supplier delivered the gardening supplies ordered on PO 2019-2. She sent an invoice for $11,200 because some of the items were of a higher quality than ordered. The Parks department accepted the entire delivery and forwarded the invoice for payment. 5. Based on a mid-year review of economy, the finance director concluded that sales tax revenues would be less than the original estimate. As a result, the legislature amended the budget, reducing the sales tax estimate by $50,000 and the Parks department—plants and supplies appropriation by $35,000. Record the transactions and events applicable to the appropriation for Parks department—plants and supplies in the following appropriations ledger. NOTE: Use a negative sign with your answers if: 1. the amount entered in the Appropriation column is a debit (Dr.) rather than a credit (Cr.); or 2. the amount entered in the Expenditures column is a credit (Cr.) rather than a debit (Dr.). Appropriations Ledger Appropriation: Parks department plants and supplies Appropriation Encumbrances Expenditures Available Item Cr. Dr. Cr. Dr. Appropriation 1 Budget Answer Answer Answer Answer Answer 2 PO 2019-1 Answer Answer Answer Answer Answer PO 2019-2 Answer Answer Answer Answer Answer 3 PO 2019-1 Answer Answer Answer Answer Answer PO 2019-1 Exp Answer Answer Answer Answer Answer 4 PO 2019-2 Answer Answer Answer Answer Answer PO 2019-2 Exp Answer Answer Answer Answer Answer 5 Budget Rev Answer Answer Answer Answer Answe

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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Preparation of appropriations ledger

The following transactions and events occurred in Marilyn County during calendar year 2019:

1. The legislature adopted the following budget:

Estimated revenues and other sources:
Property taxes	$1,740,000
Sales taxes	1,000,000
Use of fund balance	10,000
Total	$2,750,000
Appropriations:
General government—salaries	$ 420,000
General government—supplies	30,000
Parks department—salaries	2,000,000
Parks department—plants and supplies	300,000
Total	$2,750,000

2. The Parks department placed PO 2019-1 for shrubbery in the amount of $52,000 and PO 2019-2 for gardening supplies in the amount of $11,000. The orders were charged to the appropriation for Parks department—plants and supplies.

3. The supplier delivered the shrubbery ordered on PO 2019-1; however, the supplier said he could not deliver some of the shrubs because he no longer carried them. The invoice for $49,000 was approved and forwarded to the comptroller’s office for payment; the rest of the order ($3,000) was cancelled.

4. The supplier delivered the gardening supplies ordered on PO 2019-2. She sent an invoice for $11,200 because some of the items were of a higher quality than ordered. The Parks department accepted the entire delivery and forwarded the invoice for payment.

5. Based on a mid-year review of economy, the finance director concluded that sales tax revenues would be less than the original estimate. As a result, the legislature amended the budget, reducing the sales tax estimate by $50,000 and the Parks department—plants and supplies appropriation by $35,000.

Record the transactions and events applicable to the appropriation for Parks department—plants and supplies in the following appropriations ledger.

NOTE: Use a negative sign with your answers if: 1. the amount entered in the Appropriation column is a debit (Dr.) rather than a credit (Cr.); or 2. the amount entered in the Expenditures column is a credit (Cr.) rather than a debit (Dr.).

Appropriations Ledger Appropriation: Parks department plants and supplies
	Appropriation	Encumbrances	Expenditures	Available
Item	Cr.	Dr.	Cr.	Dr.	Appropriation
1 Budget	Answer	Answer	Answer	Answer	Answer
2 PO 2019-1	Answer	Answer	Answer	Answer	Answer
PO 2019-2	Answer	Answer	Answer	Answer	Answer
3 PO 2019-1	Answer	Answer	Answer	Answer	Answer
PO 2019-1 Exp	Answer	Answer	Answer	Answer	Answer
4 PO 2019-2	Answer	Answer	Answer	Answer	Answer
PO 2019-2 Exp	Answer	Answer	Answer	Answer	Answer
5 Budget Rev	Answer	Answer	Answer	Answer	Answer

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