Chapter 2 - 124,225 130,583 119,812 149,622 134,227 Gas Tax...

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Nick Nguyen E 2-5 1 k 2 a 3 j 4 g 5 b 6 d 7 e 8 i 9 f 10 c 11 h E 2-6 General Ledger Debits Credits General Fund: 1a. Cash  100,000     Other Financing Sources         Proceeds of 3-Year Note  100,000  Governmental Activities, Government-wide: 1b. Cash  100,000      Notes Payable  100,000  General Ledger Debits Credits General Fund: 2a. Expenditures-Capital Outlay  100,000      Cash  100,000  Governmental Activities, Government-wide: 2b. Vehicles  100,000      Cash  100,000  Because the resources in the fund are all available to spend regardless of their source. E 2-7
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Assests  160,748   175,111   101,549   156,387   174,870  Liabilities  72,551   85,433   -     86,753   74,361  Revenues  138,336   169,964   120,589   153,740   149,374 
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Unformatted text preview: 124,225 130,583 119,812 149,622 134,227 Gas Tax Revenue Fund Housing and Urban Development Grant Fund Trenton Library Fund 10% of Total Governmental Funds 5% of Total Governmental and Enterprise Funds Expenditures/Ex penses Gas Tax Revenue Fund's liabilities and revenues does not meet both criterion. Housing and Urban Development Grant Fund's liabilities and expenses do not meet 10% criterion. Trenton Library Fund does not meet both criterion. Therefore, in addition to its General Fund, the Town of Trenton must report its Housing and Urban Development Grant Fund as major governmental funds....
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This note was uploaded on 09/04/2011 for the course ECON 161 taught by Professor Jamesbaker during the Fall '11 term at University of Houston.

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Chapter 2 - 124,225 130,583 119,812 149,622 134,227 Gas Tax...

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