a. The balance in Deferred Inflows-Property Taxes was $48,000 at the end of the previous year. This was recognized as revenue in the current year in a reversing journal entry. b. On July 1, 2019, property taxes in the amount of $8,200,000 were levied. It was estimated that 0.5 percent would be uncollectible. The property taxes were intended to finance the expenditures for the year ended June 30, 2020. e collected. c. October 31, $4,200,000 in property taxes d. December 31, $3,700,000 in additional property taxes were collected. e. Receivables totaling $8,700 were deemed to be uncollectible and written off. f. On June 30, $37,000 was moved from Revenues Control to Deferred Inflows, because it was not expected to be collected within 60 days. Prepare journal entries for each of the dates as indicated. (If no entry is required for a transaction/event, select "No Journal Entry

Expenditure accruals A state whose fiscal year ends June 30, 2022, had the following transactions and events. For each item, compute how much total expenditures the state will report in the General Fund Statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2022. 1. During the year, the state paid salaries of $3,780,000. Its employees also earned $157,500 during the period June 23 to June 30, but the payroll for that period will be paid on July 12. $0 2. The state permits its employees to accumulate up to 30 days of vacation leave. The employees are entitled to be paid on termination or retirement for any unused vacation days. At the beginning of the fiscal year, the state's liability for unused vacation pay was $756,000. By the end of the fiscal year, the vacation pay liability had increased to $850,500. The latter amount includes $16,800 owed to employees who retired as of June 30, 2022 with unused vacation pay. That amount will be paid on July…

During 2019, a county debt service fund receives $5,000,000 from the general fund for budgeted payment of principal and interest on general obligation bonds. The debt service fund makes $4,000,000 in interest and $1,000,000 in principal payments.    How is this reported on the debt service fund’s 2019 operating statement?   a. Expenditures, $4,000,000; revenues, $5,000,000   b. Expenditures, $4,000,000; other financing sources, $5,000,000   c. Expenditures, $5,000,000; other financing sources, $5,000,000   d. Expenditures, $5,000,000; revenues $5,000,000

at the end of the 2023 fiscal year the general fund had $500 in encumbrances that remained opened into fiscal year 2024. In 2024 the encumbered goods were received at an invoiced cost of $520. How much would be recorded as the 2024 expenditure?

Godo

Property Tax Revenue: A city that has a 12/31 fiscal year end has adopted a policy of recognizing property tax revenue consistent with the modified accrual accounting 60-day availability rule under GAAP. Assume every December 31st the government properly defers revenue amounts deemed unavailable. Important dates related to property tax revenue are listed below.                             10/1/2019 Fiscal year 2020 property taxes of $800,000 (5% of which are estimated to be uncollectible) are levied (e.g. sent to taxpayers) and are legally enforceable on 10/1/2019 to finance the activities of fiscal year 2020.                           1/1/2020 Tax and fiscal year 2020 begins.                 Cash collections related to property taxes are as follows:         2/15/2020 related to 2019 property taxes $40,000     5/30/2020 related to 2019 property taxes $10,000     11/10/2020 related to 2020 property taxes $590,000     1/30/2021 related to 2020 property taxes…

Ll.133.