On October 1, 2013, the City of Highland placed an order with Ajax Sand & Gravel Co. for 1,000 tons of cinders to be spread upon Highland’s streets during winter storms. The estimated cost of the cinders was $ 10 per ton, delivered. Ajax delivered 800 tons of cinders to Highland’s road maintenance yard on October 20, along with an invoice for $ 8,000. Ajax delivered the remaining 200 tons of cinders on November 1, along with an invoice for $ 2,000. Prepare the General Fund journal entries necessary on October 1, October 20, and November 1, 2013. Classify the expenditures as Road maintenance.
Answer to relevant QuestionsThe town council received an increasing number of complaints from citizens about the poor condition of some of the streets following an exceptionally harsh winter. In response, the town council directed that the public ...Prepare journal entries to record the following transactions and events affecting the General Fund of the Village of Kowitt Gorge during fiscal 2013.1. The annual budget was adopted as follows:Estimated Revenues Property ...Do the differences between full accrual accounting and modified accrual accounting apply to revenues, expenditures, or both? Explain. The county of Edvic is facing a General Fund deficit in 2013 because actual tax collections are lagging behind estimates. At a staff meeting, the village manager tells the chief of public works that the chief will need to ...A city’s Parks Department has these two General Fund appropriations: Parks Department salaries and Parks Department other than salaries. Prepare journal entries to record the following transactions and events applicable to ...
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