The city of beverly heights general fund had the following


The city of Beverly heights general fund had the following transactions among others in 2017, 1. Appropriations were made as follows: personal services $111,400, contractual services $8,700, material and supplies 8,500, New Patrol cars 21,000, other 12,000,total 161,600 2. General fund cash $2,000 was paid to debt service fund to provide for debt service. 3. a long term note of $8,300 including interest of 1,300 and a short term note of 2,500 ( including interest of 150) came due. The Beverly heights council had not made appropriations for these items. The necessary actions were taken and the notes were paid. 4. General fund cash 100,000 was paid to an enterprise fund to finance construction of a new auxiliary generator. And 50,000 was contributed to establish a central motor pool facility. The enterprise fund will repay the general fund in 10 equal annual instalments beginning January 2019. 5. The council increased the appropriation for personal services by 500. 6. Materials and supplies are accounted for on the purchases method. The beginning inventory was 200. 8,500 of materials and supplies were ordered during the year. a new patrol car costing 20,000 was also ordered. 7. The following expenditures were made by the city. Personal services 111,700 contractual services 8,700 material and supplies (estimated to cost 7,600) 7,500 New patrol cars 21,200 other 11,800 total 160,900 8. The new patrol cars were received. The balance of the materials ordered is expected early next year. The council passed amendments to its appropriations necessary to make the foregoing expenditures legal. The expenditures were paid. 9. Materials and supplies on hand at end of year amount to 1,000. a. prepare the general journal entries required to record the transactions in the general ledger and in the expenditure ledger of the Beverly heights general fund. Assume that there were no outstanding encumbrances at the end of 2016. b. prepare a trial balance for the expenditures ledger and prove its agreement with the general ledger control accounts.

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: The city of beverly heights general fund had the following
Reference No:- TGS01071006

Expected delivery within 24 Hours