Ques.1 Prepare journal entries for the City of Pudding's governmental funds to record the following transactions,...

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Ques.1 Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, For government-wide financial statements. a. Government- wide Financial statement. The first $9,500 of the state grant received in (g) is expended as intended. h. Governmental Activities O Record cash received from the state grant. Expenditures - public service 9,500 O Cash 9,500 Record the expense of the grant for recycling. Deferred revenues 9,500 O Revenues 9,500 O Ques. 2 Prepare journal entries for a local government to record the following transactions, for fund financial statements. b. A $1.05 million contract is signed for construction of the warehouse. The commitment is reported, if allowed. b. Capital projects fund Record contract for construction of warehouse. .......... Ques.1 Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, For government-wide financial statements. a. Government- wide Financial statement. The first $9,500 of the state grant received in (g) is expended as intended. h. Governmental Activities O Record cash received from the state grant. Expenditures - public service 9,500 O Cash 9,500 Record the expense of the grant for recycling. Deferred revenues 9,500 O Revenues 9,500 O Ques. 2 Prepare journal entries for a local government to record the following transactions, for fund financial statements. b. A $1.05 million contract is signed for construction of the warehouse. The commitment is reported, if allowed. b. Capital projects fund Record contract for construction of warehouse. ..........

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Date Solution Page No 1 Datel Particulars h Journal Entiy Debit Dol 9500 Cedit tlneaun... View the full answer