Advanced Financial Accounting
12th Edition
ISBN: 9781259916977
Author: Christensen, Theodore E., COTTRELL, David M., Budd, Cassy
Publisher: Mcgraw-hill Education,
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Question
Chapter 19, Problem 19.7E
(a)
To determine
Introduction:
The journal entries for the transactions in 20X6
(b)
To determine
Introduction: Journal entries is a systematic method of recording transactions as and when they occur. It is a summary of transactions divided into the debit and credit items that are recorded chronologically. It is an act of keeping and recoding all the transactions occurring in the business.
The journal entries for the transactions at the end of 20X7, upon receipt of second payment on the pledge for building construction.
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Hello my question is how the Township of Thomasville’s General Fund has the following net resources at year end:
$69,000 of prepaid insurance
$410,000 rainy day fund approved by the township governing board with specific conditions for its use
$2,500 of supplies inventory
$49,000 state grant for snow removal
$190,000 contractual obligations for the purchase of equipment
Outstanding encumbrance of $105,000 for the purchase of furniture & fixtures (assume no contractual obligation)
Total Fund Balance is $1,010,500
What would be the total Unassigned fund balance?
A voluntary health and welfare entity receives $32,000 in cash from solicitations made in the local community. The charity receives an additional $1,500 from members in payment of annual dues. Members are assumed to receive benefits approximately equal in value to the amount of dues paid. How should this money be recorded?
Revenues of $33,500.
Public support of $33,500.
Public support of $32,000 and a $1,500 increase in the fund balance.
Public support of $32,000 and revenue of $1,500.
The City of Oxbow General Fund has the following net resources at year-end:
$260,000 unexpended proceeds of a state grant required by law to be used for health education.
$20,000 of prepaid insurance.
$609,000 rainy day fund approved by city council for use under specified circumstances.
$210,000 budget stabilization fund to be used in the event of revenue shortfall.
$285,000 provided for contractual obligations for capital projects.
$41,000 unexpended proceeds of a tax required by law to be used for emergency 911 services.
$1,636,000 total fund balance.
Required:Prepare the fund balance section of the Balance Sheet.
City of Oxbow
Partial Balance sheet-General Fund
Fund Balances
Nonspendable
$
Restricted
$
$
Committed
$
$
Assigned
Unassigned
Total Fund Balance
Chapter 19 Solutions
Advanced Financial Accounting
Ch. 19 - Prob. 19.1QCh. 19 - Prob. 19.2QCh. 19 - Prob. 19.3QCh. 19 - Prob. 19.4QCh. 19 - Prob. 19.5QCh. 19 - Prob. 19.6QCh. 19 - Prob. 19.7QCh. 19 - Prob. 19.8QCh. 19 - Prob. 19.9QCh. 19 - Prob. 19.10Q
Ch. 19 - Prob. 19.11QCh. 19 - Prob. 19.12QCh. 19 - Prob. 19.13QCh. 19 - Prob. 19.14QCh. 19 - Prob. 19.15QCh. 19 - Prob. 19.16QCh. 19 - Prob. 19.17QCh. 19 - Prob. 19.18QCh. 19 - Should a rotary club, an ONPO, report depreciation...Ch. 19 - Prob. 19.20QCh. 19 - Prob. 19.1CCh. 19 - Prob. 19.2CCh. 19 - Prob. 19.3CCh. 19 - Prob. 19.4CCh. 19 - Prob. 19.5CCh. 19 - Prob. 19.7CCh. 19 - Prob. 19.1.1ECh. 19 - Prob. 19.1.2ECh. 19 - Prob. 19.1.3ECh. 19 - Prob. 19.1.4ECh. 19 - Prob. 19.1.5ECh. 19 - Prob. 19.1.6ECh. 19 - Prob. 19.2.1ECh. 19 - Prob. 19.2.2ECh. 19 - Prob. 19.2.3ECh. 19 - Prob. 19.2.4ECh. 19 - Prob. 19.2.5ECh. 19 - Prob. 19.2.6ECh. 19 - Prob. 19.2.7ECh. 19 - Prob. 19.2.8ECh. 19 - Prob. 19.2.9ECh. 19 - Prob. 19.2.10ECh. 19 - Prob. 19.2.11ECh. 19 - Prob. 19.2.12ECh. 19 - Prob. 19.3ECh. 19 - Prob. 19.4ECh. 19 - Prob. 19.5.1ECh. 19 - Prob. 19.5.2ECh. 19 - Prob. 19.5.3ECh. 19 - Prob. 19.5.4ECh. 19 - Prob. 19.5.5ECh. 19 - Prob. 19.5.6ECh. 19 - Prob. 19.5.7ECh. 19 - Prob. 19.5.8ECh. 19 - Prob. 19.5.9ECh. 19 - Prob. 19.6ECh. 19 - Prob. 19.7ECh. 19 - Prob. 19.8.1ECh. 19 - Prob. 19.8.2ECh. 19 - Prob. 19.8.3ECh. 19 - Prob. 19.8.4ECh. 19 - Prob. 19.8.5ECh. 19 - Prob. 19.8.6ECh. 19 - Prob. 19.8.7ECh. 19 - Prob. 19.8.8ECh. 19 - Prob. 19.8.9ECh. 19 - Prob. 19.8.10ECh. 19 - Prob. 19.9ECh. 19 - Prob. 19.10PCh. 19 - Prob. 19.11PCh. 19 - Prob. 19.12PCh. 19 - Prob. 19.13PCh. 19 - Prob. 19.14PCh. 19 - Prob. 19.15PCh. 19 - Prob. 19.16PCh. 19 - Prob. 19.17PCh. 19 - Prob. 19.18PCh. 19 - Prob. 19.19PCh. 19 - Prob. 19.20PCh. 19 - Prob. 19.21PCh. 19 - Prob. 19.22PCh. 19 - Prob. 19.23PCh. 19 - Prob. 19.24.1PCh. 19 - Prob. 19.24.2PCh. 19 - Prob. 19.24.3PCh. 19 - Prob. 19.24.4PCh. 19 - Prob. 19.24.5PCh. 19 - Prob. 19.24.6PCh. 19 - Prob. 19.24.7PCh. 19 - Prob. 19.24.8PCh. 19 - Prob. 19.24.9PCh. 19 - Prob. 19.24.10PCh. 19 - Prob. 19.24.11PCh. 19 - Prob. 19.24.12PCh. 19 - Prob. 19.24.13PCh. 19 - Prob. 19.24.14PCh. 19 - Prob. 19.24.15PCh. 19 - Prob. 19.24.16PCh. 19 - Prob. 19.24.17PCh. 19 - Prob. 19.24.18PCh. 19 - Prob. 19.24.19PCh. 19 - Prob. 19.24.20PCh. 19 - Prob. 19.25PCh. 19 - Prob. 19.26P
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