You are an accountant for the city of Springfield record thefollowing transactions
General fund
As one of the accountants for the city of springfield you willrecord the following transactions into the accompanyingworkbooks
1.
the city levied its general property taxes for the year of1,580,000 the city estimates that 30,000 of the taxes will proveuncollectible. recor the taxes assuming the city will collect theremaining balance later during the year.
2. the city ocllected 1,300,000 of property taxes before the duedate for taxes. The remainder of the taxes receibable becomedelinquent.
3. the city received and vouchered the materials and suppliesthat were on order from the previous year. Teh actual cost equaledthe estimated cost of these materials and supplies. 19,000 the cityrecords expenditures for materials and supplies when they areconsumed. a perpetual inventory system is used.
4. the city incurred and paid salary expenditures asfollows:
accrued salaries payable january 1 50,000
general government 180,000
Public safety 580,000
highways and streets 175,000
health and sanitation 150,000
parks and recreation 220,000
total 1,355,000
5. billins were received from the central communications networkinternal service fund for communications services used by generalgovernment agencies and departments as follows:
general government 18,000
public safety 15,000
highways and streets 3,500
health and sanitation 6630
parks and recreation 13,940
total 57,070
6. 61,000 was paid on the amounts osed to the centralcommunications network internal service fund.
7. other unencumbered expenditures incurred during the year werecouchered as follows:
general government 11,420
public safety 41,280
total 52,700
8. 500,000 was loaned from the general fund to the addictionprevention special revenue fund to provide working capital for thatfund. The loan is to be repaid within a year.
9. The general fund transferred resources to other funds asfollows:
addiction prevention special revenue fund 60,000
parks and recreation captial projects fund 200,000
total 1,059,965
10. The general fund received a transfer of 100,000 from thewater and sewer enterprise fund.
11. The city levied interest and penalties of 35,000 on theoverdue taxes receivable interest and penalties of 5,600 areepedted to prove uncollectible
12. the city wrote off uncollectible taxes receivable of 23,000and related interst and penalities of 4,800.
13. Genera governemnt equipment with and original cost of300,000 and accumultaed deprectiation of 187,000 was sold for72,000 which was deposited in the general fund.
14. materials and supplies were used by general fund departmentsduring the year as follows:
general government 11,000
public safety 35,000
highways and streets 75,300
health and sanitation 39,400
parks and recreation 30,000
total 190,700
15. the city entered into a capital lease for parks andrecreation equipment on december 31. the capitalizable cot of theequipment was 90,000 including a down payment of 10,000
16. the city contributed 60,200 to the city police and firepension trust fund.
17. the general fund received 250,000 from the addictonprevention special revenue fund in partial repayment of theinterfund loan.
18. the city paid vouchers payable of 235,800.
