Solutions for Accounting for Governmental & Nonprofit Organizations, 2nd Edition Patton
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Course
Advanced Accounting
Institution
Advanced Accounting
Complete Solutions Manual for Accounting for Governmental & Nonprofit Organizations, 2e 2nd Edition by Patton, Patton, Waymire. All Chapters solutions are included with Instant Download.
Chapter 1 Governmental and Nonprofit Accounting Environment and Characteristics (pg. 1-1)
Chapter 2 The ...
Accounting for Governmental & Nonprofit
Organizations, 2e Patton Solutions
Appendix A
Comprehensive
Governmental Accounting Problem
QUESTIONS
Part A General Fund Budgetary Journal Entries (Chapter 3)
(45 minutes)
Item 1:
Estimated revenues – property taxes 9,000
Estimated revenues – personal income taxes 5,000
Estimated revenues – intergovernmental 1,000
Estimated revenues – recreation fees 600
Budgetary fund balance 500
Appropriations – public safety salaries 7,000
Appropriations – public safety supplies 500
Appropriations – public works salaries 5,000
Appropriations – parks salaries 2,300
Appropriations – transfer to Library Fund 100
Appropriations – transfer to Debt Service Fund 1,200
To record budget
Item 2:
Encumbrances– public safety supplies 450
Budgetary fund balance reserved for encumbrances 450
To record encumbrances for $300 firearms and $150 uniforms
Item 3:
Budgetary fund balance reserved for encumbrances 300
Encumbrances – public safety supplies 300
Expenditures – public safety supplies 330
Vouchers payable 330
To reverse encumbrances and record expenditure
Item 4:
Vouchers payable 330
Cash 330
To record payment of voucher
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