Question: Prepare journal entries in the general fund for the following

Prepare journal entries in the general fund for the following 2018 transactions that represent inflows of financial resources to Tyler City:
1. To pay the wages of part-time city maintenance employees, the Cemetery Expendable Trust
Fund transfers $45,000 to the general fund.
2. A resident donates land worth $75,000 for a park.
3. The city is notified by the state that it will receive $30,000 in road assistance grants this year.
4. A fire truck with an original cost of $36,000 is sold for $9,000.
5. Sales of license stickers for park use total $5,000. The fees cover this year and next year.
Security staff is paid from these fees to check for cars in the park without stickers.

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  • CreatedApril 13, 2015
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