during July, the first month of the fiscal year Chp 3 Homework- Link to Connect

Question

during July, the first month of the fiscal year Chp 3 Homework- Link to Connect Help Save&EitSubmit 18 E3-23 Recording Encumbrances [LO 3-5 During July, the frst month of the fscal year, the Town of Willingdon issued the folowing purchase orders and contracts Miscella Total parehase 25-909 365.0 Required a-t Prepare the general journal entry to record the issuance of the purchase orders and contracts. (If no entry is required for a transaction/event, select-O Journal Entry Requirer in the first account ned.) Journal entry worksheet of the purchase onders

Explanation / Answer

(a) Record the Issuance of Journal Entry for issuance of Purchase orders and contracts Amount in $ Amount in $ Event General Journal Debit Credit 1 Encumbrancs A/c 1365000           To Encumbrancs Outstanding A/c 1365000 (Being issuance of Purchase of Purchase Orders and Contracts as been issued ) TOWN OF WILLINGDON Encumbrances ledger (b) Show the entries in Subsidiary ledger Accounts Account description Encumbrancs Increase Dr Encumbrancs Decrease (Cr) Encumbrancs Balances Expenditures Expenditures Balances Dr /(Cr) Appropriation Cr/(Dr) Balance cr /(Dr) General Government 800000 800000 800000 Public Safety 400000 1200000 1200000 Public Works 75000 1275000 1275000 Health and Welfare 65000 1340000 1340000 miscellaneous 25000 1365000 1365000

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