During fiscal year 2017, the Town of Tonawanda issued purchase orders to various
ID: 2492170 • Letter: D
Question
During fiscal year 2017, the Town of Tonawanda issued purchase orders to various vendors in the amounts shown for the following functions of the town:
General Government $ 82,500
Public Safety 148,700
Public Works 130,400
Culture and Recreation 97,300
Health and Welfare 94,800
Miscellaneous 14,200
Total $ 567,900
All goods ordered during the year were received at the following actual costs:
General Government $ 83,720
Public Safety 147,940
Public Works 131,140
Culture and Recreation 98,780
Health and Welfare 93,970
Miscellaneous 14,300
Total $ 569,850
a. Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) ·
1. Record the issuance of purchase orders during fiscal year 2017.
B. Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
1.Record the receipt of goods during fiscal year 2017.
2. Record the payment for goods during fiscal year 2017
My options ·
No Journal Entry Required ·
Culture and Recreation ·
Encumbrances ·
Encumbrances Outstanding ·
Expenditures ·
General Government ·
Health and Welfare ·
Miscellaneous ·
Public Safety ·
Public Works ·
Vouchers Payable
Explanation / Answer
General Ledger
Debit Credit
A. General Fund (at time of issuance of Purchase order)
Encumbrances (2017) - Dr. 567,900
To Encumbrances Outstanding (2017) 567,900
General Ledger
Debit Credit
B.1. General Fund (at the time of Receipt of Goods)
Encumbrances Outstanding (2017) - Dr. 567,900
To Encumbrances (2017) 567,900
B.2. General Fund (at the time of Recording of Payment)
Expenditures -Dr. 569,850
To Vouchers Payable 569,850
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