Connect Secure https//newconnect.m connect.html Watch Series Onlin Free Online P
ID: 2577938 • Letter: C
Question
Connect Secure https//newconnect.m connect.html Watch Series Onlin Free Online PaycheS Bookmarks ceFilms.info Qual Rhana Now Rihe black hair Mental Heelth CounYesmovies Watch Help Save & Exie Chapter 17-Accounting for State and Local Govt's (P Check On January 1, 2017, the City of Hastings created a solid waste landfill that it expects to reach capacity gr If the landfill were to be closed at the current time, closure costs would be appr postclosure work. Of these totals, the city must pay $58.000 on December 2017 the landfill reached 2 percent of capacity. At the end of 2018, the landfill reached 12 percent of capacity a reassessment is made, total closure costs are determined to be $170 milion rather than $1.50 milion. oximately $1.50 milion plus an additional $810000 for preliminary closure work. At the end of Also at the end of 2018, each year for 30 points a. Assuming that the landfill is viewed as an enterprise fund, what journal entries are made in 2017 and 2018 on the government-wide b Assuming that the landfillis reported within the general fund, what journal entries are made in 2017 and 2018 on the government c. Assuming that the landtil is viewed as an enterprise fund, what journal entries are made in 2017 and 2018 on fund financial d Assuming that the lanidill s rsported wthin the general fund, what journal entries are made in 2017 and 2018 on fund financal financial statements? wide financial statements? statements? statements? eBook Complete this question by entering your answers in the tabs below Required A Required B Required C Required D Pre 171121 11284.-Pdf ^ .rng-17112111284-..pdf ^ Type here to searchExplanation / Answer
1
Assuming that the landfill is viewed as an enterprise fund, what journal entries are made in 2017 and 2018 on the government wide
Dec 31 2017
Closure costs
1500000
Additional closure costs
810000
2310000
x 2%
Expense land closure
46200
Dec 31 2018
Total closure costs
1700000
Additional closure costs
810000
2510000
12%
Expense land closure
301200
Date
General Journal
Debit
Credit
Dec 31 2017
Expense-landfill closure
46200
Landfill closure Liability
46200
Dec 31 2017
Landfill closure liability
58000
cash
58000
Dec 31 2018
Expense-landfill closure
301200
Landfill closure Liability
301200
Dec 31 2018
Landfill closure liability
58000
cash
58000
2
Assume the landhill reported within the general fund, what journal entries are made
Date
General Journal
Debit
Credit
Dec 31 2017
Expense-landfill closure
46200
Landfill closure Liability
46200
Dec 31 2017
Landfill closure liability
58000
cash
58000
Dec 31 2018
Expense-landfill closure
301200
Landfill closure Liability
301200
Dec 31 2018
Landfill closure liability
58000
cash
58000
3
Assuming landhill is viewed as an enterprise fund,
Date
General Journal
Debit
Credit
Dec 31 2017
Expense-landfill closure
46200
Landfill closure Liability
46200
Dec 31 2017
Landfill closure liability
58000
cash
58000
Dec 31 2018
Expense-landfill closure
301200
Landfill closure Liability
301200
Dec 31 2018
Landfill closure liability
58000
cash
58000
4
Fund financial statements
Date
General Journal
Debit
Credit
Dec 31 2017
Landfill closure liability
58000
cash
58000
Dec 31 2018
Landfill closure liability
58000
cash
58000
1
Assuming that the landfill is viewed as an enterprise fund, what journal entries are made in 2017 and 2018 on the government wide
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.