During the fiscal year 2017, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city:
General Government $ 164,200
Public Safety 302,000
Public Works 224,400
Culture and Recreation 181,700
Health and Welfare 168,100
Miscellaneous 24,600
Total $ 1,065,000
All goods ordered during the year were received at the following actual costs:
General Government $ 159,800
Public Safety 301,700
Public Works 226,800
Culture and Recreation 181,700
Health and Welfare 171,300
Miscellaneous 25,600
Total $ 1,066,900
Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “During the fiscal year 2017, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Management's target rate of return is 30% and the weighted average cost of capital is 15%. Its effective tax rate is 40%.
Answers (1)
Mumm Co. issued 10-year $200,000 debenture bonds on January 1, 2015. The bonds pay interest semiannually. Mumm uses the effective interest method to amortize bond premiums and discounts.
Answers (1)
The political tendency to favor spending priorities with immediate benefits but deferred costs results in: A. chronic budget deficits. B. misdirection of stabilization policy. C. unfunded liabilities. D. all of these.
Answers (1)
In a community property state, John marries Patricia. Prior to the marriage John owned an SUV. During the marriage, John bought a Buick, John and Patricia bought a second property with money earned from Patricia's job, and each individual received a
Answers (1)
Pilgrim Corporation reports the following on its financial statements. Cash paid for new equipment, $35,000 Cash collected from customers, $120,000 Paid a note payable, $10,000 Cash collected in exchange for issuing additional shares of Pilgrim
Answers (1)
New Questions in Business
The world is often described as having a global economy. How important is international trade to the United States?
Answers (1)
Buyer of a good bear the larger share of the tax burden when a tax is placed on a product for whicha. the supply is more elastic than the demand. b. the demand in more elastic than the supply. c. the tax is placed on the sellers of the product. d.
Answers (1)
Why is it important to distinguish between unilateral and mutual mistakes?
Answers (1)
Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the production. c. are incurred regardless of sales volume. d. must be linked to strategy in the business plan
Answers (1)
True or false: to promote stability in commodity markets, international commodity agreements have relied on production and export controls, buffer stocks, and multilateral contracts.
Answers (1)