Gf encumbrances 5000000 32000 reserve for

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Unformatted text preview: RANCES 32,000 EXPENDITURES 31,900 ENCUMBRANCES CASH GA 32,000 31,900 EQUIPMENT 31,900 CASH 31,900 9-10 Chapter 09 - Financial Reporting of State and Local Governments Ch. 9, Solutions (Cont'd) 9-5. CITY OF ALLENTON Debits 1. Credits General Fund: TAXES RECEIVABLE—DELINQUENT ESTIMATED UNCOLLECTIBLE TAXES—CURRENT 169,200 18,000 TAXES RECEIVABLE—CURRENT 169,200 ESTIMATED UNCOLLECTIBLE TAXES—DELINQUENT 18,000 (To reclassify account balances) 2. General Fund: EXPENDITURES 66,000 EQUIPMENT 66,000 (To correctly record equipment as an expenditure) 3. General Fund: BONDS PAYABLE 200,000 FUND BALANCE 200,000 (To remove long-term liabilities from the General Fund) OFU—INTERFUND TRANSFER OUT 102,000 EXPENDITURES—PRINCIPAL 90,000 EXPENDITURES—OTHER 12,000 (To correctly record the General Fund’s contribution to the debt service fund) 9-11 Chapter 09 - Financial Reporting of State and Local Governments Ch. 9, Solutions, 9-6 (Cont'd) Debits Credits Debt Service Fund: EXPENDITURES—PRINCIPAL 90,000 EXPENDITURES—INTE...
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