ellamai10123
16.10.2020 •
Business
The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2013:
Estimated Revenues
General admissions fees $260,000
Admissions fees (big cat zoo) $140,000 $400,000
Appropriations
Parks and recreation salaries $280,000
Parks and recreation supplies 40,000
Parks and recreation cat food 60,000 380,000
Budgeted Increase in Fund Balance $20,000
Transactions and events for calendar year 2019 were as follows:
a. Recorded the approved budget for the year.
b. Collected $250,000 in general admissions fees and $160,000 in big cat zoo admissions fees during the year.
c. Ordered supplies for $38,000.
d. All supplies ordered in the previous transaction arrived, together with an invoice for $37,000. The invoice was approved for payment, but was not paid during the year.
e. The Ketzel Park trustees approved a $10,000 increase in the cat food appropriation.
f. During the year, salaries were paid in the amount of $270,000. Also, at year-end, an accrual of $9,000 was made for salaries earned but not paid.
g. Cat food in the amount of $68,000 was ordered, paid for, and consumed. (Purchase orders for cat food are not prepared. Record the liability for receipt of the food and the payment.)Use the preceding information to do the following.
Required:
a. Prepare journal entries to record the foregoing transactions and events.
b. Prepare a statement of revenues, expenditures, and changes in fund balance.
c. Prepare a balance sheet. Assume that the fund balance is classified as Committed.
d. Prepare a budgetary comparison schedule.
Solved
Show answers
More tips
- G Goods and services How to Choose the Right Iron: Purchase Tips...
- S Science and Technology Colliders: How They Work and Why They Matter...
- C Construction and repair How to Choose the Best Underfloor Heating?...
- C Computers and Internet How to Get Rid of Windows Genuine Check?...
- C Computers and Internet War of Social Media: Which Platform is the Leader?...
- H Health and Medicine How to Treat the Flu: A Comprehensive Guide...
- O Other What is a Disk Emulsifier and How Does it Work?...
- F Family and Home What does a newborn need?...
- F Family and Home Choosing the Right Car Seat for Your Child: Tips and Recommendations...
- F Food and Cooking How to Get Reconfirmation of Registration?...
Answers on questions: Business
- B Business Evaluate a current organizational structure and recommend structural changes that can help address the concerns the organization identified regarding collaboration, communication,...
- E English 4. How does Juliet s monologue in lines 15-31 affect Romeo? O A He is shocked by her insistence that he give up his name. B He regrets being a Montague but resigns himself...
- M Mathematics What is 5\10 plus +8\100...
- B Biology Plz help be with these questions put the nunber qnd then the answer...
- S Social Studies Victor s professor believes that talking about dreams and childhood will bring things from the unconscious to conscious awareness. Victor s professor MOST likely believes...
- B Biology How does the diagram show the difference between pre-mRNA and completed mRNA?...
- M Mathematics During a Mango season, 91 bags of mangoes were sold. Each bag contained 50 mangoes except one bag, which contained 45 mangoes. how many mangoes were sold altogethershow...
- E English Identifying Theme ... for Mr. Hyde had numbered few familiars-even the master of the servant maid had only seen him twice; his family could nowhere be traced; he had never...
- H History Washington s Presidency Reading Comprehension Choose the best answer for each item. Write the letter of your answer in the blank, 1. Which of the following set precedents...
- M Mathematics What is f(2) for function f(x)=5x+3...
Ответ:
ACCOUNT
interest expense 144debit
interest payable 144credit
rent expense 1200debit
prepaid expense 1200credit
unearned revenue 4600debit
rent revenue 4600credit
depreciation expense 3700debit
acc dep machine 3700credit
salaries expense 3200debit
salaries payable 3200credit
supplies expense 2600debit
supplies 2600credit
Explanation:
Interest is calculate doing:
principal x rate x time
7,200 x 0.08 x 3/12 = 144
rent
1,800 for 3 months there is 2 expired 1,800 x 2/3 = 1,200
earned revenue on rent
11,040 x 5 monhts / 12 = 4,600
supplies:
beginning + purchase - ending = consumed supplies
600 + 3,700 - 1,700 = 2,600
Ответ:
[20/3]:[5/6]
[20/3]x[6/5]
[120/15]
=8