Record the journal entries when the landfill is treated as an enterprise fund.

Question

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Answer 1

Question

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

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Answer 2

Question

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

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Answer 3

Question

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

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Answer 4

Question

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

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Answer 5

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

Answer 6

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 7

Chapter 12, Problem 30P

a.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

Answer 8

a.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated as enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (1)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 9

a.

Expert Solution

Answer 10

a.

Expert Solution

Answer 11

Expert Solution

Answer 12

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 13

b.

To determine

Record the journal entries when the landfill is treated as a journal fund.

Answer 14

b.

Expert Solution

Explanation of Solution

Journal entries on the government wide- financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (2)

Working note:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 15

b.

Expert Solution

Answer 16

b.

Expert Solution

Answer 17

Expert Solution

Answer 18

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 19

c.

To determine

Record the journal entries when the landfill is treated as an enterprise fund.

Answer 20

c.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated an enterprise fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expense – landfill closure		57,000
	Landfill closure liability			57,000
	(To record the landfill expense for the current year)

31-12-2015	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

31-12-2016	Expense – landfill closure		132,000
	Landfill closure liability			132,000
	(To record the landfill expense for the current year)

31-12-2016	Landfill closure liability		50,000
	Cash			50,000
	(To record the payment of landfill expense)

Table: (3)

Working notes:

Year 1:

Expense = Total landfill cost x Capacity reached= ($1,200,000+$7,000,000) x 3%= $57,000

Year 2:

Expense = Total landfill cost x Capacity reached - Last year expense= ($1,400,000+$7,000,000) x 9% -57,000= $132,000

Answer 21

c.

Expert Solution

Answer 22

c.

Expert Solution

Answer 23

Expert Solution

Answer 24

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

Table: (4)

Answer 25

d.

To determine

Record the journal entries when the landfill is treated as a journal fund.

Answer 26

d.

Expert Solution

Explanation of Solution

Journal entries on the fund financial statement of H, when landfill is treated a journal fund.

Date	Account Title and Explanation	Post Ref.	Debit ($)	Credit ($)

31-12-2015	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)

31-12-2016	Expenditures – landfill closure		50,000
	Cash			50,000
	(To record the payment of landfill closure)