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The City of South River budget for the fiscal year ended June 30, 2024, included an appropriation for the fire department in the amount of $8,718,000. During the month of July 2024, the following transactions occurred (in summary): Purchase orders were issued in the amount of $557,000. Of the $557,000 in purchase orders, $508,000 were filled, with invoices amounting to $498,000. Salaries, not encumbered, amounted to $314,000. A budget appropriations reduction in the amount of $63,000 was approved by the city council. Required: Prepare an appropriations, expenditures, and encumbrances ledger for the fire department for the month of July. Note: Credit amounts should be indicated by a minus sign. Transaction 1 2 3 4 5 CITY OF SOUTH RIVER Appropriation, Expenditures, and Encumbrances Ledger General Fund: Public Safety - Fire Month: July, 2024 Reference Budget Purchase Orders Issued Invoices Received and Approved for Payment Payrolls Budget Revision Appropriations Encumbrances Expenditures Unexpended Appropriation Balance $ $ $ $ $ 0 0 0 0 0

The City of South River budget for the fiscal year ended June 30, 2024, included an appropriation for the fire department in the amount of $8,718,000. During the month of July 2024, the following transactions occurred (in summary): Purchase orders were issued in the amount of $557,000. Of the $557,000 in purchase orders, $508,000 were filled, with invoices amounting to $498,000. Salaries, not encumbered, amounted to $314,000. A budget appropriations reduction in the amount of $63,000 was approved by the city council. Required: Prepare an appropriations, expenditures, and encumbrances ledger for the fire department for the month of July. Note: Credit amounts should be indicated by a minus sign. Transaction 1 2 3 4 5 CITY OF SOUTH RIVER Appropriation, Expenditures, and Encumbrances Ledger General Fund: Public Safety - Fire Month: July, 2024 Reference Budget Purchase Orders Issued Invoices Received and Approved for Payment Payrolls Budget Revision Appropriations Encumbrances Expenditures Unexpended Appropriation Balance $ $ $ $ $ 0 0 0 0 0

FINANCIAL ACCOUNTING
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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es The City of South River budget for the fiscal year ended June 30, 2024, included an appropriation for the fire department in the amount of $8,718,000. During the month of July 2024, the following transactions occurred (in summary): Purchase orders were issued in the amount of $557,000. Of the $557,000 in purchase orders, $508,000 were filled, with invoices amounting to $498,000. Salaries, not encumbered, amounted to $314,000. A budget appropriations reduction in the amount of $63,000 was approved by the city council. Required: Prepare an appropriations, expenditures, and encumbrances ledger for the fire department for the month of July. Note: Credit amounts should be indicated by a minus sign. Transaction 1 2 3 4 5 Total CITY OF SOUTH RIVER Appropriation, Expenditures, and Encumbrances Ledger General Fund: Public Safety - Fire Month: July, 2024 Reference Budget Purchase Orders Issued Invoices Received and Approved for Payment Payrolls Budget Revision Appropriations Encumbrances $ 0 Expenditures 0 $ 0 Unexpended Appropriation Balance $ $ $ $ $ $ 0 0 0 0 0
Transcribed Image Text:es The City of South River budget for the fiscal year ended June 30, 2024, included an appropriation for the fire department in the amount of $8,718,000. During the month of July 2024, the following transactions occurred (in summary): Purchase orders were issued in the amount of $557,000. Of the $557,000 in purchase orders, $508,000 were filled, with invoices amounting to $498,000. Salaries, not encumbered, amounted to $314,000. A budget appropriations reduction in the amount of $63,000 was approved by the city council. Required: Prepare an appropriations, expenditures, and encumbrances ledger for the fire department for the month of July. Note: Credit amounts should be indicated by a minus sign. Transaction 1 2 3 4 5 Total CITY OF SOUTH RIVER Appropriation, Expenditures, and Encumbrances Ledger General Fund: Public Safety - Fire Month: July, 2024 Reference Budget Purchase Orders Issued Invoices Received and Approved for Payment Payrolls Budget Revision Appropriations Encumbrances $ 0 Expenditures 0 $ 0 Unexpended Appropriation Balance $ $ $ $ $ $ 0 0 0 0 0
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