solution - government accounting - Solution to 3-9 General...

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Solution to 3-9 General Ledger Subsidiary Ledger Debits Credits Debits Credits a. ESTIMATED REVENUES 2,700,000 FUND BALANCE 50,000 APPROPRIATIONS 2,650,000 Estimated Revenues Ledger: TAXES 1,900,000 LICENSES AND PERMITS 350,000 FINES AND FORFEITS 250,000 INTERGOVERNMENTAL REVENUES 200,000 Appropriations Ledger : GENERAL GOVERNMENT 500,000 PUBLIC SAFETY 1,600,000 PUBLIC WORKS 350,000 PARKS AND RECREATION 150,000 MISCELLANEOUS 50,000 b. 1. CASH 43,000 REVENUES 43,000 Revenues Ledger : LICENSES AND PERMITS 31,000 FINES AND FORFEITS 12,000
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2. ENCUMBRANCES—2010 29,900 RESERVE FOR ENCUMBRANCES—2010 29,900 Encumbrances Ledger : GENERAL GOVERNMENT 7,400 PUBLIC SAFETY 11,300 PUBLIC WORKS 6,100 PARKS AND RECREATION 4,200 MISCELLANEOUS 900 3. RESERVE FOR ENCUMBRANCES—2010 29,100 ENCUMBRANCES—2010 29,100 EXPENDITURES—2010 29,200 CASH 29,200 Encumbrances Ledger : GENERAL GOVERNMENT 7,400 PUBLIC SAFETY 10,700 PUBLIC WORKS 5,900 PARKS AND RECREATION 4,200 MISCELLANEOUS 900 Expenditures Ledger : GENERAL GOVERNMENT 7,300 PUBLIC SAFETY 10,800 PUBLIC WORKS 6,100 PARKS AND RECREATION 4,100 MISCELLANEOUS 900
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c . CALCULATION OF BUDGETED BUT UNREALIZED REVENUES AS OF JULY 31, 2010 UNREALIZED SOURCE BUDGETED ACTUAL REVENUE PROPERTY TAXES $1,900,000 $ -0- $1,900,000 LICENSES AND PERMITS 350,000 31,000 319,000 FINES AND FORFEITS 250,000 12,000 238,000 INTERGOVERNMENTAL 200,000 -0- 200,000 TOTAL $2,700,000 $43,000 $2,657,000
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d.
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