Prepare journal entries for the city of pudding’s governmental funds to record the following transactions, first for fund financial

Prepare journal entries for the city of pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a new truck for the sanitation department was ordered at a cost of $116,000. the city print shop did $3,900 worth of work for the school system (but has not yet been paid). an $9 million bond was issued to build a new road. cash of $214,000 is transferred from the general fund to provide permanent financing for a municipal swimming pool that will be viewed as an enterprise fund. the truck ordered in (a) is received at an actual cost of $119,300. payment is not made at this time. cash of $37,800 is transferred from the general fund to the capital projects fund.

Answers

Answer and Explanation;

City of Pudding's governmental funds

General JournalDebitCredit

a.General Fund

Dr Encumbrances Control $114,250

Cr Fund Balance - Reserved for Encumbrances $114,250

b.General Fund

Dr Expenditures (or Supplies) $3,600

Cr Due to Internal Service Fund $3,600

c.Capital Projects Fund

Dr Cash $11,000,000

Cr Other Financing Sources - Bonds Proceeds $11,000,000

d.General Fund

Dr Other Financing Uses - Transfers Out - Swimming Pool $159,000

Cr Cash $159,000

e.General Fund

Dr Fund Balance - Reserved for Encumbrances $114,250

Cr Encumbrances Control $114,250

Dr Expenditures $116,650

Cr Vouchers Payable $116,650

f.General Fund

Dr Other Financing Uses - Transfers Out $37,100

Cr Cash $37,100

Dr Capital Projects FundCash $37,100

Other Financing Sources - Transfers In $37,100

g.Special Revenue

Dr FundCash $30,000

Cr Deferred Revenues $30,000

h.Special Revenue Fund

Dr Deferred Revenues $5,700

Cr Revenues $5,700

Dr Expenditures $5,700

Cr Cash $5,700

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