A city used an Enterprise Fund to provide electricity services to the General Fund and its citizens. A total of $ 50,000 was billed to the General Fund and collected 30 days later. Prepare the journal entries necessary to record these transactions, and label the fund( s) used.
Answer to relevant QuestionsThe Municipal Park Fund for Putnam Village had the following preclosing trial balance. Prepare the closing entry necessary at June 30, 2013, and compute the components of net assets as they should be reported as of thatdate.Lilly County, faced with the prospect of declining revenues, decides it can save money by doing all printing in- house. The county creates the Lilly Printing Fund (an Internal Service Fund), directs departments to fulfill ...Rochester Rapid Transit (RRT), an Enterprise Fund of Orange County, provides bus service for county residents. Because fare revenues are insufficient to cover operating expenses, RRT— as a matter of public policy— ...When are Private Purpose Trust Funds used? The Pension Trust Fund maintained by the City of Linden had the following transactions during 2012. Record each transaction in the Pension Trust Fund. Ignore any other funds that may be involved in a transaction. 1. ...
Post your question