Problem $1$

This problem has two parts, part $1$a and part $1b.$ Answer each part separately using the

same information. Do not mix answers to $1$a and $1$b; they are answered separately.

Problem $1$a: Using the list of transactions below, provide all necessary journal entries for

the General Fund only. Write $"$no entry" if no entry is needed.

Problem $1$b: Using the same list of transactions, provide all necessary journal entries for

the Governmental Activities section in the Government$-$wide records. Write $"$no

entry" if no entry is needed.

Maple City started operations in January, $2023.$ This information is for the city's first year

of legal existence.

The City Council adopted a General fund budget for the year which included

estimated revenues of $$1,800,000,$ estimated other financing sources of $$350,000,$

and appropriations of $$2,300,000.$

The city ordered one pickup truck at an anticipated cost of $$86,000$ and recorded the

commitment.

Supplies for the City Manager's office were purchased for $$56,000$ on account. You

may use either the purchases or the consumption method.

Property tax bills were mailed to all property owners. The total assessment is

$$1,200,000,$ although officials anticipate that $4\%$ will never be collected. There is a

legal claim to this money and the government can use it immediately.

A local artist donated a painting for the city Hall valued at $$49,000$ to be displayed in

the City Hall lobby. The city decided not to capitalize or depreciate this asset.

The vehicle ordered in item $(2)$ above was received at an actual cost of $$85,000$ to be

paid at a later time. The vehicle has an expected life of $5$ years and no salvage

value. When the city records depreciation, it uses the straight$-$line method and

recognizes a full year of depreciation in the year of purchase.

At year$-$end, $$8,000$ of the supplies purchased in item $(3)$ were still in the City

Manager's office.

On January $1,$ the city's Public Works Department created a landfill on land already

owned and used $10\%$ of the capacity in the first year. If closed now, closure costs

would be $$1,100,000.$ The city pays $$90,000$ of the closure costs each year.

Salaries of $$95,000$ for the Police Department are due one month after the end of the

year.

At the end of the year, the budget was removed from the city's records. PLEASE SHOW STEPS.