Chap017-baker 25

Chap017-baker 25 - 1,870,000 Allowance for Uncollectible...

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Chapter 17 - Governmental Entities: Introduction and General Fund Accounting 17-25 E17-12 Matching Questions Involving Interfund Transactions and Transfers in the General Fund 1. B 2. C 3. C 4. C 5. C 6. B 7. A 8. D 9. A 10. B SOLUTIONS TO PROBLEMS P17-13 General Fund Entries [AICPA Adapted] (1) ESTIMATED REVENUES CONTROL 2,000,000 APPROPRIATIONS CONTROL 1,940,000 BUDGETARY FUND BALANCE – UNRESERVED 60,000 Record the budget. (2) Taxes Receivable
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Unformatted text preview: 1,870,000 Allowance for Uncollectible Taxes 10,000 Property Tax Revenue 1,860,000 Record the property tax levy. (3) Allowance for Uncollectible Taxes 8,000 Taxes Receivable 8,000 Write off uncollectible taxes receivable. (4) Cash 1,820,000 Taxes Receivable 1,820,000 Record property tax collections. (5) ENCUMBRANCES 1,070,000 BUDGETARY FUND BALANCE RESERVED FOR ENCUMBRANCES 1,070,000 Record purchase commitments....
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