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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. A new truck for the sanitation department was ordered at a cost of $94,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). c. A(n) $7 million bond was issued at face value to build a new road. d. The city transfers cash of $206,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. e. The truck ordered in (a) is received but at an actual cost of $97,850. Payment is not made at this time. f. The city transfers cash of $40,600 from its general fund to a capital projects fund. g. The city receives a state grant of $30,000 that must be spent to promote recycling by the citizens. h. The first $5,050 of the state grant received in (a) is expended as intended, Debit Credit Activity General Journal a. A new truck for the sanitation department was ordered at a cost of $94,250. a. General Fund Record encumbrances outstanding Encumbrances - truck Fund balance - reserves for encumbrances 94,250 8 94,250 b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). b. General Fund Recoge amount due to internal service fund. Expenditures Due to internal service fund 3,900 >> 3,900 c. A(n) $7 million bond was issued at face value to build a new road. Record sale of bonds. C The rty transfers cach of $206.000 from its General fund to provide permanent financing for a municipal swimming pool that will be maintained as d. The city transfers cash of $206,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. d. Record authorization of transfer for construction e. The truck ordered in (a) is received but at an actual cost of $97,850. Payment is not made at this time. e General Fund Recogs Record entry to remove encumbrance. Record receipt of truck t. The city transfers cash of $40,600 from its general fund to a capital projects fund. f. Record cash received from general fund to capital project fund. Record transfer in to capital project fund. g. The city receives a state grant of $30,000 that must be spent to promote recycling by the citizens g Record state grant received for promoting recycling. h. The first $5,050 of the state grant received in (9) is expended as intended. h. Record cash received from the state grant Revenues Deferred revenues Record the expenditure of the grant for recycling. FUND EIN STMT GOVT WIDE FIN STMT > Debit Credit Transaction Fund/Activity General Journal a. A new truck for the sanitation department was ordered at a cost of $94,250. a. Governmental Activities Record encumbrances outstanding. No joumal entry required b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid) b. Governmental Activities Record amount due to internal service fund. No joumal entry required c. A(n) $7 million bond was issued at face value to build a new road. C Govermental Activities Record sale of bonds Cash Bonds payable 7,000,000 7,000,000 d. The city transfers cash of $206,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund d. Governmental Activities Record authorization of transfer for construction Other financing uses - transfers out - swimming pool X 206,000 Cash 206,000 Business-Type Activities Record payment of cash for construction Cash Transfers in-general fund 206,000 > X 206,000 e. The truck ordered in (a) is received but at an actual cost of $97,850. Payment is not made at this time. Governmental Activities Record receipt of truck No journal entry required e 1. The city transfers cash of $40,600 from its general fund to a capital projects fund, Record cash received from general fund to capital project 1 fund, g. The city receives a state grant of $30,000 that must be spent to promote recycling by the citizens. g Governmental Activities Record state grant received for promoting recycling. Cash Deferred revenues 30,000 30,000 h. The first $5,050 of the state grant received in (g) is expended as intended. h. Governmental Activities Record cash received from the state grant Expenditures - public service Cash XX 5,050 5,050 Record the expense of the grant for recycling Deferred revenues Revenues 5,050 X 5,050

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