Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund-based financial statements and then for government wide financial statements. (Enter your answers in dollars not in millions. Leave no cell: blank. If no entry is required, select "No Journal Entry Required" in the account field and zero (0) in the amount field.) a. A new truck for the sanitation department was ordered at a cost of $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). Assume print shop is a governmental activity. c. An $11 million bond was issued to build a new road. d. Cash of $140,000 is transferred from the General Fund to provide permanen financing for a municipal swimming pool that will be viewed as an Enterprise Fund.

Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund-based financial statements and then for government wide financial statements. (Enter your answers in dollars not in millions. Leave no cell: blank. If no entry is required, select "No Journal Entry Required" in the account field and zero (0) in the amount field.) a. A new truck for the sanitation department was ordered at a cost of $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). Assume print shop is a governmental activity. c. An $11 million bond was issued to build a new road. d. Cash of $140,000 is transferred from the General Fund to provide permanen financing for a municipal swimming pool that will be viewed as an Enterprise Fund.

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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