ACCOUNTING F/GOVT+NONPROFIT CONNECT+>I
17th Edition
ISBN: 9781308820217
Author: RECK
Publisher: Mcgraw-Hill/Create
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Question
Chapter 4, Problem 17EP
a.
To determine
Journalize the summary entry in General Fund general journal for the issuance of purchase orders, and show the subsidiary ledger for Encumbrances ledger.
b.
To determine
Journalize the summary entry in General Fund general journal for the receipt of goods and payment of goods, and show the subsidiary ledger.
c.
To determine
Discuss whether difference in actual cost of goods received and the estimated cost for the order placed trigger any budgetary or managerial issue.
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Students have asked these similar questions
Determine the manufacturing overhead application rate
III. For each transaction, indicate whether the assets (A), liabilities (L) or owner's equity (OE), increased (+),
decreased (-), or did not change (0) by placing the appropriate sign in the appropriate column.
A
L
OE
1
Collected an account receivable in full
2
Paid cash for supplies
3
Returned supplies purchased on account
4
Paid cash to settle accounts
5
Paid cash to owner for personal use
6
Received cash as additional investment
7 Purchased supplies on account
00
8
Charged customers for services made o
account
9
Rendered services to cash customers
10 Paid cash for rent on building
IV. Indicate whether each of the above transactions is a source of assets (SA), use of assets (UA), exchange of
assets (EA), or exchange of claims (EC) transaction.
1. Received cash investment from the owner.
2. Paid cash on accounts payable.
3. Collected cash from accounts receivable.
4. Made cash distribution to the owner.
5. Paid cash for rent expense.
6. Invested cash in time deposit.
7. Purchased land…
Given correct answer general Accounting
Chapter 4 Solutions
ACCOUNTING F/GOVT+NONPROFIT CONNECT+>I
Ch. 4 - Prob. 1QCh. 4 - When preparing the statement or schedule of...Ch. 4 - Prob. 3QCh. 4 - During a recession citizens and governments see a...Ch. 4 - If the General Fund of a certain city needs...Ch. 4 - Prob. 6QCh. 4 - Explain why some governments may account for...Ch. 4 - Prob. 8QCh. 4 - Prob. 9QCh. 4 - Prob. 10Q
Ch. 4 - Prob. 12CCh. 4 - Prob. 14CCh. 4 - Choose the best answer. When equipment is...Ch. 4 - Goods for which a purchase order had been placed...Ch. 4 - Prob. 16.3EPCh. 4 - Garden City has calculated that General Fund...Ch. 4 - Prob. 16.5EPCh. 4 - Carroll City levies 200,000 of property taxes for...Ch. 4 - Prob. 16.7EPCh. 4 - Prob. 16.8EPCh. 4 - Prob. 16.9EPCh. 4 - Prob. 16.10EPCh. 4 - Prob. 17EPCh. 4 - Prob. 18EPCh. 4 - Prob. 19EPCh. 4 - At the end of fiscal year 2017, the City of...Ch. 4 - The City of Waterville applied for a grant from...Ch. 4 - Prob. 22EPCh. 4 - Prob. 23EPCh. 4 - Prob. 24EPCh. 4 - Prob. 25EP
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