Question: A village ordered supplies for its Fire Department at an
A village ordered supplies for its Fire Department at an estimated cost of $ 16,700. The supplies were received with an invoice for $ 16,800. The village accepted the shipment and the invoice. Prepare journal entries to record these transactions in the General Fund.
Answer to relevant QuestionsPrepare journal entries to record the following transactions for the Village of Radnor. Classify the expenditures as Parks supplies. 1. Placed purchase order 960 for supplies in the amount of $ 8,000 and purchase order 961 ...If the Jeter Village council adopts the budget as submitted, prepare the journal entry to record the adopted budget.The General Fund is defined as the fund used to account for all financial resources not accounted for in another fund, but it is actually much more than that. Explain why. For a General Fund or a Special Revenue Fund, what does a credit balance in the fund balance account(s) at the end of the year signify? What does a debit balance signify? The sheriff’ s office in the village of Katoonah had a General Fund appropriation of $ 85,000 for public safety supplies. On April 25 the sheriff ordered supplies with a quoted price of $ 80,000. On May 15 one- half of the ...
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