city nas the following Purchase Order Billed Amount Amount $ 550,000 Transportation Public safety 735,200 954,845 54,270 490,000 720,013 463, 480 Libraries Parks 54,320 Total purchase orders and invoices $2,294,315 $1,727,813 All orders are partially filled, except for the order of Parks, which is completed. Required Prepare general journal entries for the following transactions: a. The issuance of the purchase orders. b. Orders are received and billed.

city nas the following Purchase Order Billed Amount Amount $ 550,000 Transportation Public safety 735,200 954,845 54,270 490,000 720,013 463, 480 Libraries Parks 54,320 Total purchase orders and invoices $2,294,315 $1,727,813 All orders are partially filled, except for the order of Parks, which is completed. Required Prepare general journal entries for the following transactions: a. The issuance of the purchase orders. b. Orders are received and billed.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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During the current year, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city: General Government $ 171,200 Public Safety 309,000 Public Works 231,400 Culture and Recreation 188,700 Health and Welfare 175,100 Miscellaneous 25,300 Total $ 1,100,700 All goods ordered during the year were received at the following actual costs: General Government $ 166,800 Public Safety 308,700 Public Works 233,800 Culture and Recreation 188,700 Health and Welfare 178,300 Miscellaneous 27,000 Total $ 1,103,300 Required a.&b. Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers. (If no entry is required for a…
During the current year, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city: General Government $ 172,200 Public Safety 310,000 Public Works 232,400 Culture and Recreation 189,700 Health and Welfare 176,100 Miscellaneous 25,400 Total $ 1,105,800 All goods ordered during the year were received at the following actual costs: General Government $ 167,800 Public Safety 309,700 Public Works 234,800 Culture and Recreation 189,700 Health and Welfare 179,300 Miscellaneous 27,200 Total $ 1,108,500 Required a.&b. Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers. (If no
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