3. Prepare journal entries to record all of the transactions for this period in the Central Garage Fund accounts and in the governmental activities accounts. a. Supplies were purchased on account for $88,000; the perpetual inventory method is used. b. The cost of supplies used during the year ended June 30, 2011, was $130,000. A physical count taken as of that date showed materials and supplies on hand totaled $72,000 at cost. c. Salaries and wages paid to employees totaled $253,000, including related costs.

General City's general fund reported a supplies inventory costing $200,000 at the beginning of the fiscal year. During the year, General City purchased materials and supplies on account for $15,000,000; $900,000 remains unpaid at year-end. Materials and supplies costing $125,000 are on hand at the end of the fiscal year. Prepare the journal entries made this year using the consumption method and purchases method.

During the month of July, the Town of Lynton recorded the following information related to purchases: General government Public safety Public works Culture and recreation Total purchase orders and invoices At the end of the month, several purchase orders remained outstanding for all functions except Culture and Recreation. Public Works in particular had a large amount of purchase orders outstanding because it had put in an order for delivery of paving materials to be delivered over the months of July and August. For all but Culture and Recreation, consider the amounts for purchase orders received the same as the actual cost of the items. Req a1 Required a. (1) Prepare the general journal entry to record the issuance of the purchase orders. (2) Show entries in subsidiary ledger accounts. b. (1) Prepare the general journal entries to record the receipt of the goods ordered at the actual cost shown and the related payable. (2) Show entries for the subsidiary ledger accounts including the…

Ohio University has a $150 change fund for each shift. The following is a summary of today’s register activity:  The case drawer contains $725.95 cash, paid-out slips totaling $10.50 and a customer charge of $7.75.  The register readings show sales of $590 and sales tax of $31.  Determine the cash overage or shortage for the day.