The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed for the fiscal year ended June 30, 20x2 Cash Taxes Receivable Total Allowance for Uncollectible Taxes Vouchers Payable Fund Balance: Assigned for Encumbrances Total Postclosing Trial Balance, June 30, 20x1 $720,000 41,000 $761,000 $ 7,400 173,600 580,000 $761,000 Transactions July 1, 20x1-June 30, 20x2 Debit $1,800,000 $1,845,000 1,880,000 1,807,400 Credit 9,400 7,400 1,845,000 1,838,000 73,000 73,000 32,600 Postclosing Trial Balance, June 30, 20x2 $675,000 113,600 $788,600 $9,400 166,600 73,000 539,600 $788,600 Additional Information: The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000 Encumbrances of $1,070,000 were made during the year.
The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed for the fiscal year ended June 30, 20x2 Cash Taxes Receivable Total Allowance for Uncollectible Taxes Vouchers Payable Fund Balance: Assigned for Encumbrances Total Postclosing Trial Balance, June 30, 20x1 $720,000 41,000 $761,000 $ 7,400 173,600 580,000 $761,000 Transactions July 1, 20x1-June 30, 20x2 Debit $1,800,000 $1,845,000 1,880,000 1,807,400 Credit 9,400 7,400 1,845,000 1,838,000 73,000 73,000 32,600 Postclosing Trial Balance, June 30, 20x2 $675,000 113,600 $788,600 $9,400 166,600 73,000 539,600 $788,600 Additional Information: The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000 Encumbrances of $1,070,000 were made during the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Qw.20a. do all the entries
Transcribed Image Text:The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000.
Encumbrances of $1,070,000 were made during the year
Required:
Prepare proper journal entries to record the budgeted and actual transactions for the fiscal year ended June 30, 20x2 Include closing
entries of no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Journal entry worksheet
< A
B
Record the budget.
C D
E
G
H ***** L
Transcribed Image Text:The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed
for the fiscal year ended June 30, 20x2.
Cash
Taxes Receivable
Total
Allowance for Uncollectible Taxes
Vouchers Payable
Fund Balance:
Assigned for Encumbrances
Unassigned
Total
Postclosing
Trial Balance,
June 30, 20x1
$720,000
41,000
$761,000
$ 7,400
173,600
580,000
$761,000
Transactions July 1,
20x1-June 30, 20x2
Debit Credit
$1,800,000 $1,845,000
1,880,000 1,807,400
9,400
7,400
1,845,000 1,838,000
73,000
73,000
32,600
Postclosing
Trial Balance,
June 30, 20x2
$675,000
115,600
$788,600
$ 9,400
166,600
73,000
539,600
$788,600
Additional Information:
The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000.
Encumbrances of $1,070,000 were made during the year.
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