For each of the summarized transactions for the Village of Sycamore General Fund, prepare the general ledger journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The budget was formally adopted, providing for estimated revenues of $1,120,000 and appropriations of $987,000. Revenues were received, all in cash, in the amount of $1,105,000. Purchase orders were issued in the amount of $479,000. Of the $479,000 in (c), purchase orders were filled in the amount of $470,500; the invoice amount was $470,000 (not yet paid). Expenditures for payroll not encumbered amounted to $513,000 (not yet paid). Amounts from (d) and (e) are paid in cash. ONLY NEED 5 AND 6 Done Please, the other numbers are given to make sure all info is provided.
For each of the summarized transactions for the Village of Sycamore General Fund, prepare the general ledger journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The budget was formally adopted, providing for estimated revenues of $1,120,000 and appropriations of $987,000. Revenues were received, all in cash, in the amount of $1,105,000. Purchase orders were issued in the amount of $479,000. Of the $479,000 in (c), purchase orders were filled in the amount of $470,500; the invoice amount was $470,000 (not yet paid). Expenditures for payroll not encumbered amounted to $513,000 (not yet paid). Amounts from (d) and (e) are paid in cash. ONLY NEED 5 AND 6 Done Please, the other numbers are given to make sure all info is provided.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For each of the summarized transactions for the Village of Sycamore General Fund, prepare the general ledger journal entries. (If no entry is required for a transaction/event, select "No
- The budget was formally adopted, providing for estimated revenues of $1,120,000 and appropriations of $987,000.
- Revenues were received, all in cash, in the amount of $1,105,000.
- Purchase orders were issued in the amount of $479,000.
- Of the $479,000 in (c), purchase orders were filled in the amount of $470,500; the invoice amount was $470,000 (not yet paid).
- Expenditures for payroll not encumbered amounted to $513,000 (not yet paid).
- Amounts from (d) and (e) are paid in cash.
ONLY NEED 5 AND 6 Done Please, the other numbers are given to make sure all info is provided.
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