Chap004, solutions for study

Chap004, solutions for study - Chapter 04 Accounting for...

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Chapter 04 - Accounting for the General and Special Revenue Funds C HAPTER 4 Accounting for the General and Special Revenue Funds 4-5 (A) VILLAGE OF SEASIDE PINES – GENERAL FUND G ENERAL L EDGER D EBITS C REDITS A PPROPRIATIONS E STIMATED O THER F INANCING U SES B UDGETARY F UND B ALANCE E STIMATED R EVENUES 475,000 35,000 40,000 550,000 P ROPERTY T AX R EVENUES O THER R EVENUES F UND B ALANCE -U NRESERVED E XPENDITURES : G ENERAL G OVERNMENT E XPENDITURES : P UBLIC S AFETY E NCUMBRANCES T RANSFER O UT 503,000 28,000 79,000 175,000 347,000 55,000 33,000 4-5 (B) VILLAGE OF SEASIDE PINES – GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 2009 R EVENUES : P ROPERTY T AXES $503,000 O THER R EVENUES 28,000 T OTAL R EVENUES 531,000 E XPENDITURES : G ENERAL G OVERNMENT 175,000 P UBLIC S AFETY 347,000 T OTAL E XPENDITURES 522,000 E XCESS OF R EVENUES O VER E XPENDITURES 9,000 O THER F INANCING S OURCES AND U SES : T RANSFERS O UT (33,000) (33,000) D ECREASE IN F UND B ALANCE (24,000) 4-1
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Chapter 04 - Accounting for the General and Special Revenue Funds F UND B ALANCE , J ANUARY 1, 2009 30,000 F UND B ALANCE , D ECEMBER 31, 2009 $ 6,000 4-2
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Chapter 04 - Accounting for the General and Special Revenue Funds 4-5 (c) F UND B ALANCE : R ESERVED FOR E NCUMBRANCES 55,000 U NRESERVED (49,000) T OTAL F UND E QUITY 6,000 4-6. CITY OF CARTER SUMMER EMPLOYMENT GRANT FUND GENERAL JOURNAL D EBITS C REDITS 1. E STIMATED R EVENUES C ONTROL A PPROPRIATIONS C ONTROL 275,000 275,000 2. C ASH D UE TO G ENERAL F UND 275,000 275,000 3A. E XPENDITURES C ONTROL C ASH A CCRUED W AGES P AYABLE 272,000 267,000 5,000 3B. G RANTS R ECEIVABLE -F EDERAL G OVERNMENT R EVENUES C ONTROL 272,000 272,000 4. C ASH G RANTS R ECEIVABLE -F EDERAL G OVERNMENT 248,000 248,000 5. A PPROPRIATIONS C ONTROL E STIMATED R EVENUES C ONTROL 275,000 275,000 R EVENUES C ONTROL U NRESERVED F UND B ALANCE E XPENDITURES C ONTROL 272,000 0 272,000 4-3
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Chapter 04 - Accounting for the General and Special Revenue Funds 4-7. TOWN OF QUINCY GENERAL FUND GENERAL JOURNAL D EBITS C REDITS A. D EFERRED R EVENUES -P ROPERTY T AXES R EVENUES C ONTROL 242,000 242,000 B. T AXES R ECEIVABLE -C URRENT E STIMATED U NCOLLECTIBLE C URRENT T AXES R EVENUES C ONTROL 10,000,000 300,000 9,700,000 C. C ASH T AXES R ECEIVABLE -C URRENT 4,600,000 4,600,000 D. C ASH T AXES R ECEIVABLE -C URRENT 4,800,000 4,800,000 E. E STIMATED U NCOLLECTIBLE D ELINQUENT T AXES T AXES R ECEIVABLE -D ELINQUENT 12,000 12,000 F. R EVENUES C ONTROL D EFERRED R EVENUES -P ROPERTY T AXES 300,000 300,000 4-4
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Chapter 04 - Accounting for the General and Special Revenue Funds 4-8. BROWNVILLE SCHOOL DISTRICT GENERAL FUND GENERAL JOURNAL D EBITS C REDITS A . E NCUMBRANCES C ONTROL ( PRIOR YEAR ) U NRESERVED F UND B ALANCE 13,000 13,000 B. E NCUMBRANCES C ONTROL R ESERVE FOR E NCUMBRANCES 98,000 98,000 C. R ESERVE F OR E NCUMBRANCES E NCUMBRANCES C ONTROL ( PRIOR YEAR ) 13,000 13,000 E XPENDITURES C ONTROL ( PRIOR YEAR ) A CCOUNTS P AYABLE 12,625 12,625 D. R ESERVE FOR E NCUMBRANCES E NCUMBRANCES C ONTROL 77,000 77,000 E XPENDITURES C ONTROL A CCOUNTS P AYABLE 76,900 76,900 E. E NCUMBRANCES C ONTROL R ESERVE FOR E
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