Exercise_4_11_solution - Jefferson County General Fund Journal Entries Item Account Title 1 Estimated Revenues Appropriations Estimated other financing

Exercise_4_11_solution - Jefferson County General Fund...

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ALLOWANCE FOR CASH TAXES RECEIVABLE UNCOLLECTIBLE TAXES SUPPLIES Jefferson County bb 132,348 bb 47,220 1,570 bb bb 660 General Fund Journal Entries 4 265,000 1,325 4 7 39,800 December 31, 2015 5 258,000 258,000 5 40,110 13 37,800 7 1,020 5 5 1,020 Item # Account Title Debits Credits 39,900 8 1 Estimated Revenues 250,000 133,900 9 53,200 1,875 350 Appropriations 200,000 7,600 10 Estimated other financing uses 40,000 43,000 11 Budgetary fund balance 10,000 128,148 DEFERRED INFLOWS - 2 Encumbrances 4,800 ACCOUNTS PAYABLE PROPERTY TAXES WAGES PAYABLE FUND BALANCE Budgetary Fund Balance - Reserve for encumbrances 4,800 - bb 21,000 bb 900 bb 156,758 bb 39,800 7 3 21,000 9 900 3 Deferred inflows - property taxes 21,000 7 37,800 850 12 Property tax revenue 21,000 22,600 14 4 Taxes receivable 265,000 2,000 22,600 850 156,758 Allowance for uncollectible taxes 1,325 Property tax revenue 263,675 GENERAL GOVERNMENT CAPITAL OTHER FINANCING USES EXPENDITURES EXPENDITURES PROPERTY TAX REVENUE TRANSFERS OUT 5 Cash 258,000 Taxes receivable 258,000 9 133,000 21,000 3 10 7,600 263,675 4 Allowance for uncollectible taxes 1,020 12 850 8 39,900 14 22,600 11 43,000 Taxes receivable 1,020 13 40,110 6 Encumbrances 36,000 181,560 39,900 262,075 43,000 Budgetary Fund Balance - Reserve for encumbrances 36,000 7 Supplies 39,800

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