acc 322 final project one case study

Project Description:

these transactions need to be posted on the spreadsheet attached..........or at least tell me where it belongs on the spreadsheet! i have attached workbook sheet gf ws.

as one of the accountants for the city of springfield, you will record the following transactions into the accompanying workbook, sheet gf ws. note that some transactions have already been recorded in the workbook. the city has other accountants who also record transactions.
1. the city levied its general property taxes for the year of $1,580,000. the city estimates that $30,000 of the taxes will prove uncollectible. record the taxes assuming the city will collect the remaining balance later during the fiscal year.

2. the city collected $1,300,000 of property taxes before the due date for taxes. the remainder of the taxes receivable became delinquent.

3. the city received and vouchered the materials and supplies that were on order from the previous year. the actual cost equaled the estimated cost of these materials and supplies, $19,000. the city records expenditures for materials and supplies when they are consumed. a perpetual inventory system is used.

4. the city incurred and paid salary expenditures as follows:
accrued salaries payable, january 1 $ 50,000
general government 180,000
public safety 580,000
highways and streets 175,000
health and sanitation 150,000
parks and recreation 220,000
total $1,355,000

5. billings were received from the central communications network internal service fund for communications services used by general government agencies and departments as follows:
general government $ 18,000
public safety 15,000
highways and streets 3,500
health and sanitation 6,630
parks and recreation 13,940
total $ 57,070

6. $61,000 was paid on the amounts owed to the central communications network internal service fund. 7. other unencumbered expenditures incurred during the year were vouchered as follows:
general government $ 11,420
public safety 41,280
total $ 52,700

8. $500,000 was loaned from the general fund to the addiction prevention special revenue fund to provide working capital for that fund. the loan is to be repaid within a year.

9. the general fund transferred resources to other funds as follows:
addiction prevention special revenue fund $ 60,000
parks and recreation capital projects fund 200,000
total $1,059,965

10. the general fund received a transfer of $100,000 from the water and sewer enterprise fund.

11. the city levied interest and penalties of $35,000 on the overdue taxes receivable. interest and penalties of $5,600 are expected to prove uncollectible.

12. the city wrote off uncollectible taxes receivable of $23,000 and related interest and penalties of $4,800.

13. general government equipment with an original cost of $300,000 and accumulated depreciation of $187,000 was sold for $72,000, which was deposited in the general fund.

14. materials and supplies were used by general fund departments during the year as follows:
general government $ 11,000
public safety 35,000
highways and streets 75,300
health and sanitation 39,400
parks and recreation 30,000
total $190,700

15. the city entered into a capital lease for parks and recreation equipment on december 31. the capitalizable cost of the equipment was $90,000, including a down payment of $10,000.

16. the city contributed $60,200 to the city police and fire pension trust fund.

17. the general fund received $250,000 from the addiction prevention special revenue fund in partial repayment of the interfund loan.

18. the city paid vouchers payable of $235,800.
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