Question: Need help with chapter 4. Need the required journal entries. Thank you. Chapter 2 Opening the Books The City of Bingham has installed a new

Need help with chapter 4. Need the required journal entries. Thank you. Need help with chapter 4. Need the required journal entries. Thank you.

Chapter 2 Opening the Books The City of Bingham has installed a

new computerized accounting system, which provides files for general journal entries and

posting to appropriate general ledger/subsidiary ledger accounts. Budgetary, operating statement, and balance

sheet accounts are provided for the General Fund and the other governmental

fund t Operating statement accounts and balance sheet accounts are also provided

for governmental activities at the government-wide level and the proprietary and fiduciary

funds used by the City of Bingham that you will use in

Chapters 5-9 of the problem. To begin this case, you must enter

the city's initial accounting information as of December 31, 2016, so that

all transactions can be recorded for the next fiscal year beginning January

1, 2017 ypes. Required Open the City of Bingham software by double

clicking on the Cities of Smithville and Bingham program. If creating a

Chapter 2 Opening the Books The City of Bingham has installed a new computerized accounting system, which provides files for general journal entries and posting to appropriate general ledger/subsidiary ledger accounts. Budgetary, operating statement, and balance sheet accounts are provided for the General Fund and the other governmental fund t Operating statement accounts and balance sheet accounts are also provided for governmental activities at the government-wide level and the proprietary and fiduciary funds used by the City of Bingham that you will use in Chapters 5-9 of the problem. To begin this case, you must enter the city's initial accounting information as of December 31, 2016, so that all transactions can be recorded for the next fiscal year beginning January 1, 2017 ypes. Required Open the City of Bingham software by double clicking on the Cities of Smithville and Bingham program. If creating a new project, click (Create New Project], when the Create New Project] window appears choose City of Bingham from the (Choose a City] drop down menu. In addition, in the [Enter your namel box please type in your first and last name so that your name will appear on all printable reports and click Createl. This will create the project and provide access to all of the funds and accounts that you will need to complete the "City of Bingham" cumulative problem. To protect yourself from possible hard drive failure or corruption of your project data file, we recommended that you save your file to a removable device (e.g., flash drive or the cloud), creating a dated backup file for your project at the end of each session. To open an existing project, click on (Open Existing Project] in the opening window. If it is not already displayed, select IGeneral Fund] in the (Current Accounting Entity] window and the [Accounts] tab. Clicking on the [Accounts] tab allows you to see the chart of accounts that will be used for the IGeneral Fund]. A different chart of accounts is provided for each of the accounting entities. Next, select the [Journall tab and click the drop down menu for lAccount (4-Description)]. You should see the same general ledger accounts that were listed when you clicked on the Accounts) tab. (Note: For purposes of this exercise, date suffixes are omitted from the Expenditures and Encumbrances accounts as expenditures from more than one year's appropriations do not occur in this problem.) a. b. The post-closing trial balance for the General Fund of the City of Bingham as of December 31,2016, is shown on the following page. Select the [Journal] view and create a journal entry to enter the balance sheet accounts and amounts shown in the trial balance (review software operating procedures in Chapter 1 of these instructions if necessary). Be sure to enter 2016 from the drop-down [Year] menu and enter the paragraph number from these instructions in the [Transaction Description] box of the IJournal] view. For this entry you should enter 2-b. Select the appropriate 13 Chapter 2 Opening the Books The City of Bingham has installed a new computerized accounting system, which provides files for general journal entries and posting to appropriate general ledger/subsidiary ledger accounts. Budgetary, operating statement, and balance sheet accounts are provided for the General Fund and the other governmental fund t Operating statement accounts and balance sheet accounts are also provided for governmental activities at the government-wide level and the proprietary and fiduciary funds used by the City of Bingham that you will use in Chapters 5-9 of the problem. To begin this case, you must enter the city's initial accounting information as of December 31, 2016, so that all transactions can be recorded for the next fiscal year beginning January 1, 2017 ypes. Required Open the City of Bingham software by double clicking on the Cities of Smithville and Bingham program. If creating a new project, click (Create New Project], when the Create New Project] window appears choose City of Bingham from the (Choose a City] drop down menu. In addition, in the [Enter your namel box please type in your first and last name so that your name will appear on all printable reports and click Createl. This will create the project and provide access to all of the funds and accounts that you will need to complete the "City of Bingham" cumulative problem. To protect yourself from possible hard drive failure or corruption of your project data file, we recommended that you save your file to a removable device (e.g., flash drive or the cloud), creating a dated backup file for your project at the end of each session. To open an existing project, click on (Open Existing Project] in the opening window. If it is not already displayed, select IGeneral Fund] in the (Current Accounting Entity] window and the [Accounts] tab. Clicking on the [Accounts] tab allows you to see the chart of accounts that will be used for the IGeneral Fund]. A different chart of accounts is provided for each of the accounting entities. Next, select the [Journall tab and click the drop down menu for lAccount (4-Description)]. You should see the same general ledger accounts that were listed when you clicked on the Accounts) tab. (Note: For purposes of this exercise, date suffixes are omitted from the Expenditures and Encumbrances accounts as expenditures from more than one year's appropriations do not occur in this problem.) a. b. The post-closing trial balance for the General Fund of the City of Bingham as of December 31,2016, is shown on the following page. Select the [Journal] view and create a journal entry to enter the balance sheet accounts and amounts shown in the trial balance (review software operating procedures in Chapter 1 of these instructions if necessary). Be sure to enter 2016 from the drop-down [Year] menu and enter the paragraph number from these instructions in the [Transaction Description] box of the IJournal] view. For this entry you should enter 2-b. Select the appropriate 13

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