Purchase Solution

Ledgers for trial balance and statement of revenues

Not what you're looking for?

Ask Custom Question

Prepare ledgers for all journal entries, include trial balance and statement of revenue

a estimated Revenue- property taxes 275000
estimated Revenues - licence Fees 35,000
Appropriations - salaries 205,000
Appropriations - Supplies 40,000
appropriations - interest 1,500
Budgetary Fund Balance 63500

b Property Tax receivable 275000
allowance for uncollectable Property tax 11000
Property tax Revenue 264000

c Cash 100000
Tax anticipation Notes payable 100000

d Expenditure - Salaries 75000
Cash 75000

e Encumbrance - supplies 25000
BFBRFE 25000

f Cash 240000
Property tax receivable 240000

g Tax Anticipation Notes Payable 100000
Expenditure - Interest 1000
cash 101000

h Cash 15000
Revenue - licence fees 15000

i BFBRFE 11000
Encumbrance - supplies 11000
Expenditure - supplies 11400
Vouchers Payable 11400

j Vouchers payable 11400
Cash 11400

k Allowance for Uncollectable Property tax 8300
Property tax receivable 8300

l Expenditures - salaries 120000
Cash 120000

m Supplies 5600
Fund balance reserved for supplies 5600

n license fees receivable 20000
Revenue license fees 14000
Deferred Revenue 6000

0 Property Tax Receivable - delinquent 26700
property tax receivable 26700
Allowance for Uncollectable Property Tax 2700
Allowance for uncoll, Propert Tax - delinquent 2700

Purchase this Solution

Solution Summary

The solution prepares ledgers for all journal entries, include trial balance and statement of revenue.

Purchase this Solution


Free BrainMass Quizzes
Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Introduction to Finance

This quiz test introductory finance topics.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.