Prepare the revenues and expenditures subsidiary ledgers for the 2013 Village of Kowitt Gorge transactions and events listed in P3- 5. What are the balances for each individual source of revenues after the final transaction? What are the available appropriations for each function after the final transaction?

In P3- 5

1. The annual budget was adopted as follows:

Estimated Revenues

Property taxes........... $ 1,600,000

Fines and forfeits........... 150,000

Intergovernmental........... 475,000

..................$ 2,225,000

Appropriations

General government........ $ 210,000

Public safety ...........1,580,000

Streets ..............395,000

.................$ 2,185,000

2. Purchase orders were issued for supplies with the following estimated costs:

General government........ $ 210,000

Public safety............. 1,450,000

Streets.............. 395,000

.................$ 2,055,000

3. Revenues were received in cash as follows:

Property taxes ............$ 855,000

Fines and forfeits ..........117,000

Intergovernmental......... 295,000

.................$ 1,267,000

4. Items on order were received and accepted, and vouchers were prepared, as follows. ( Amounts shown as “ Estimated” are the purchase order amounts; amounts shown as “ Actual” are the approved invoice amounts.)

5. The Kowitt Gorge village council revised the budget, reducing the public safety appropriation by $ 120,000 and increasing the streets appropriation by a similar amount.
6. Additional revenues were received in cash as follows:
Property taxes.......... $ 742,000
Fines and forfeits .......... 37,000
Intergovernmental.......... 181,000
.................$ 960,000
7. Items on order were received and accepted, and vouchers were prepared, asfollows:

Transcribed Image Text:

Estimated Actual General government Public safety 45,000 45,000 693,700 234,800 $973,500 971,600