Solution-Prepare the budget and activity entries in journal

Prepare the budget and activity entries in journal form

Assignment Help Accounting Basics

Reference no: EM131795172

Problem 2

The June 30, 2017 pre-closing trial balance for the general fund of Oneida County, NY is shown below (all amounts are in thousands):

	Debit	Credit
Cash	$ 27,000
Property taxes receivable	40,000
Allowance for uncollectible taxes		$ 24,000
Due from other funds	5,000
Accounts payable		12,000
Due to other funds		4,000
Fund balance-unassigned		30,000
Estimated revenues	450,000
Estimated other financing sources	30,000
Appropriations		475,000
Estimated other financing uses		11,000
Property and sales tax revenues		440,000
Investment income		2,000
Current operating expenditures	400,000
Debt service: Principal and interest payments	50,000
Capital outlay	18,000
Transfers out	10,000
Transfers in		3,000
Proceeds from sale of capital assets		4,000
Proceeds of general obligation debt		25 000
Totals	$1,030,000	$1,030,000

Required

a. Prepare the budget and activity entries, in journal form.

b. Prepare the fiscal 2017 statement of revenues, expenditures, and changes in fund balance for the general fund, in good form.

c. Prepare the June 30, 2017 balance sheet for the general fund, in good form.

Reference no: EM131795172

Questions Cloud

Find the p-value for the hypothesis test will high or low : The student admits that he hadn't studied for the test, but he says he was simply guessing on each question and just got lucky.

Compete the degree of operating leverage : Compete the degree of operating leverage, how many skateboards will have to be sold next year to earn the same net operating income

Mutually exclusive control modes : Alright in this lab you are to use a stepper motor with mutually exclusive control modes. What data type / storage class is appropriate for this application?

Determine how the correlation changed the graph : Repeat the exercise in (a), but now setting the correlation between the return on portfolio p and the return on VC to 0.1.

Prepare the budget and activity entries in journal form : Prepare the budget and activity entries, in journal form. Prepare the June 30, 2017 balance sheet for the general fund, in good form.

Once inside the comparator interrupt : Once inside the comparator interrupt what must be done prior to exiting the interrupt. Some people do it first and some do it last.

Describe your design process and rationale : Describe your design process and rationale showing the iterations of your pulley assembly and of the various components that are part of it

Analog comparator via interrupt driven implementation : Reference the PDLLinks to an external site. You want to utilize the Analog Comparator via interrupt driven implementation.

Preparing the working paper to consolidate trial balances : the end of the accounting year, and you are preparing the working paper to consolidate the trial balances of Pearl and Shiek

User Account

All Pages

Prepare the budget and activity entries in journal form

Reference no: EM131795172

Reference no: EM131795172

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT