Question

The following information relates to Carson City during its fiscal year ended December 31, 2019:
a. On October 31, 2019, to finance the construction of a city hall annex, Carson issued 8%, 10-year general obligation bonds at their face value of $600,000. Construction expenditures during the period equaled $364,000.
b. Carson reported $109,000 from hotel room taxes, restricted for tourist promotion, in a special revenue fund. The fund paid $81,000 for general promotions and $22,000 for a motor vehicle.
c. 2019 general fund revenues of $104,500 were transferred to a debt service fund and used to repay $100,000 of 9%, 15-year term bonds and $4,500 of interest. The bonds were used to acquire a citizens’ center.
d. At December 31, 2019, as a consequence of past services, city firefighters had accumulated entitlements to compensated absences valued at $86,000. General fund resources available at December 31, 2019, are expected to be used to settle $17,000 of this amount, and $69,000 is expected to be paid out of future general fund resources.
e. At December 31, 2019, Carson was responsible for $83,000 of outstanding general fund encumbrances, including $8,000 for the following supplies.
f. Carson uses the purchases method to account for supplies. The following information relates to supplies:
Inventory:
January1, 2019 . .. .. . . . . . .. .... .. . .. . . .. . ....... $ 39,000
December 31, 2019 .. . . . . . .. .... .. . .. . . .. . ....... 42,000
Encumbrances outstanding:
January1, 2019 . .. .. . . . . . .. .... .. . .. . . .. . ...... 6,000
December 31, 2019 .. . . . . . .. .... .. . .. . . .. . ........ 8,000
Purchase orders during 2019. .... .. . .... .. . . . . . .. . . . . .. .... 190,000
Amounts credited to vouchers payable during2019............. 181,000
Required
1. The amount of 2019 general fund operating transfers-out is ______.
2. The 2019 general fund liabilities from entitlements for compensated absences are________.
3. The 2019 reserved amount of the general fund balance is ________.
4. The 2019 capital projects fund balance is _______.
5. The 2019 fund balance on the special revenue fund for tourist promotion is_______.
6. The amount of 2019 debt service fund expenditures is _______.
7. The amount to be included in the general fixed assets account group for the cost of assets acquired in 2019 is _______.
8. The amount by which 2019 transactions and events decreased the general long-term debt account group is _______.
9. The amount of 2019 supplies expenditures using the purchases method is _______.
10. The total amount of 2019 supplies encumbrances is _______.


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  • CreatedApril 13, 2015
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