NAME: Chris Dallof

GENERAL FUND GENERAL JOURNAL 2013

Date Account Names Debit Credit

B1 Estimated revenues - property taxes 400,000
Estimated revenues - sales taxes 70,000
Estimated revenues - parks admissions fees 10,000
Appropriations - police salaries 300,000
Appropriations - police supplies 40,000
Appropriations - parks salaries 80,000
Appropriations - transfer out to debt service fund 45,000
Budgetary fund balance 15,000
To record the budget

B2 Encumbrances 35,000
Budgetary fund balance reserved for encumbrances 35,000
To record issuance of purchase order

Encumbrances 4,000
Budgetary fund balance reserved for encumbrances 4,000
To record issuance of purchase order

B3 Budgetary fund balance reserved for encumbrances 35,000

Encumbrances 35,000
To reverse encumbrances

B4 Expenditures - police supplies 33,000

Cash 33,000
To pay invoice for police supplies

C1 Property taxes receivable 404,000

Allowance for uncollectible taxes 4,000
Revenues - property taxes 400,000
To record property tax levy

C2 Allowance for uncollectible taxes 3,000

Property taxes receivable 3,000
To write off uncollectible taxes

C3 Cash 370,000
Property taxes receivable 370,000
To collect on property taxes

C4 Property taxes receivable - delinquent 31,000

Property taxes receivable 31,000
To record delinquent taxes

Allowance for uncollectible taxes 1,000

Revenues - property taxes 1,000
To reverse allowance for uncollectible taxes
 Revenues - property taxes 10,000
Deferred property tax revenue 10,000
To record deferral of property taxes

C5 Cash 68,000
Due from state 6,000
Revenues - sales taxes 74,000
To record sales revenue from state, cash and due from

C6 Cash 18,000
Revenues - park admission fees 18,000
To record park admission fees collected

C7 Vouchers payable 35,000

Cash 35,000
To record payment of vouchers

C8 Expenditures - police salaries 290,000

Expenditures - parks salaries 70,000
Cash 360,000
To record payment of salaries

C9 Expenditures - police salaries 8,000

Expenditures - parks department salaries 5,000
Accrued salaries payable 13,000
To record accrual of salaries payable January 5, 2014

C10 No entry required

D3 Transfer out to Debt Service Fund 45,000

Cash 45,000
To record transfer to Debt Service Fund
 GENERAL FUND GENERAL LEDGER
Estimated revenues - Estimated revenues - sales Estimated revenues - parks
property taxes taxes admissions fees
400,000 70,000 10,000

400,000 70,000 10,000

Appropriations - police Appropriations - police Appropriations - parks

salaries supplies salaries
300,000 40,000 80,000

300,000 40,000 80,000

Appropriations - transfer out

to Debt Service Fund Budgetary Fund Balance Encumbrances
45,000 15,000 35,000 35,000
4,000

45,000 15,000 4,000

Budgetary Fund Balance Expenditures - police

Reserved for Encumbrances Cash supplies
35,000 35,000 370,000 33,000 33,000
4,000 68,000 35,000
18,000 360,000
40,000 45,000

4,000 23,000 33,000

Allowance for uncollectible

Property taxes receivable taxes Revenues - property taxes
404,000 3,000 3,000 4,000 10,000 400,000
370,000 1,000 1,000
31,000

0 0 391,000
 GENERAL LEDGER

Property taxes receivable - Deferred property tax

delinquent revenue Due from state
31,000 10,000 6,000

31,000 10,000 6,000

Revenues - parks admissions

Revenues - sales taxes revenues Vouchers payable
74,000 18,000 35,000 35,000

74,000 18,000 0

Expenditures - police
salaries Expenditures - parks salaries Accrued salaries payable
290,000 70,000 13,000
8,000 5,000

298,000 75,000 13,000

Transfer out to Debt Service

Fund Unassigned fund balance
45,000 5,000

45,000 5,000
 GENERAL FUND PRE-CLOSING TRIAL BALANCE

Account Name Debit Credit

Estimated revenues - property taxes 400,000
Estimated revenues - sales taxes 70,000
Estimated revenues - parks admissions fees 10,000
Appropriations - police salaries 300,000
Appropriations - police supplies 40,000
Appropriations - parks salaries 80,000
Appropriations - transfer out to Debt Service Fund 45,000
Budgetary fund balance 15,000
Encumbrances 4,000
Budgetary fund balance reserved for encumbrances 4,000
Cash 23,000
Property taxes receivable - delinquent 31,000
Due from state 6,000
Revenues - property taxes 391,000
Revenues - sales taxes 74,000
Revenues - park admissions fees 18,000
Expenditures - police supplies 33,000
Expenditures - police salaries 298,000
Expenditures - parks salaries 75,000
Accrued salaries payable 13,000
Deferred property tax revenue 10,000
Transfer out to Debt Service Fund 45,000
Unassigned fund balance 5,000
Total 995,000 995,000
 Coco City
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2013

Revenues
Property taxes $ 391,000
Sales taxes 74,000
Parks admissions fee 18,000
Total revenues 483,000

Expenditures
Police supplies 33,000
Police salaries 298,000
Parks salaries 75,000
Total expenditures 406,000

Excess of revenues over expenditures 77,000

Other financing sources (uses)

Transfer out to Debt Service Fund (45,000)
Net change in fund balance 32,000
Fund balance, beginning of year 5,000
Fund balance, end of year $ 37,000
 Coco City
General Fund
Balance Sheet
December 31, 2013

Assets
Cash $ 23,000
Property taxes receivable - delinquent 31,000
Due from state 6,000
Total assets 60,000

Liabilities
Accrued salaries payable 13,000
Deferred property tax revenue 10,000
Total liabilities 23,000

Fund Balances
Unassigned 37,000
Total fund balances 37,000
Total liabilities and fund balances $ 60,000
 Coco City
General Fund
Budgetary Comparison Schedule
For the Year Ended December 31, 2013
Original and
Final Budget Actual Variance
Revenues
Property taxes $ 400,000 $ 391,000 $ (9,000)
Sales taxes 70,000 74,000 4,000
Parks admissions fee 10,000 18,000 8,000
Total revenues 480,000 483,000 3,000

Expenditures
Police supplies 40,000 33,000 7,000
Police salaries 300,000 298,000 2,000
Parks salaries 80,000 75,000 5,000
Transfer out to Debt service 45,000 45,000 -
Total expenditures 465,000 451,000 14,000

Excess of revenues over expenditures 15,000 32,000 17,000

Fund balance, beginning of year 5,000 5,000 -
Fund balance, end of year $ 20,000 $ 37,000 $ 17,000
NAME:
CAPITAL PROJECTS FUND GENERAL JOURNAL 2013

Date Account Names Debit Credit

D1 Cash 500,000
Other financing source - bond proceeds 500,000
To record issuance of bond

D2 Expenditures - capital outlay 500,000

Cash 500,000
To record purchase of police station
 GENERAL LEDGER
(recommend that you print out and post by hand = less errors)
Cash OFS - bond proceeds Expend. Capital outlay
500,000 500,000 500,000 500,000

0 0 0
 TRIAL BALANCE

Account Name Debit Credit

Other financing sources - bond proceeds 500,000
Expenditures - capital outlay 500,000
Total 500,000 500,000
 Coco City
Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2013

Expenditures
Capital outlay $ 500,000
Total expenditures 500,000

Other financing sources (uses)

Bond proceeds 500,000
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year $ -
 Coco City
Capital Projects Fund
Balance Sheet
December 31, 2013

Assets $ -

Liabilities -

Fund Balances $ -
NAME:
DEBT SERVICE FUND GENERAL JOURNAL 2013

Date Account Names Debit Credit

D3 Cash 45,000
Transfer in from General Fund 45,000
To record transfer in from General Fund

D4 Expenditures - bond principal 25,000

Expenditures - bond interest 15,000
Matured principal payable 25,000
Matured interest payable 15,000
To record maturity of bond

D5 Matured principal payable 25,000

Matured interest payable 15,000
Cash 40,000
To record payment of bond principal and interest
 GENERAL LEDGER
(recommend that you print out and post by hand = less errors)
Cash Transfer in from General Fund Expend bond principal
45,000 40,000 45,000 25,000

5,000 45,000 25,000

Expend bond interest Matured principal payable Matured interest payable

15,000 25,000 25,000 15,000 15,000

15,000 0 0
 TRIAL BALANCE

Account Name Debit Credit

Cash 5,000
Transfer in from General Fund 45,000
Expenditure - bond principal 25,000
Expenditure - bond interest 15,000
Total 45,000 45,000
 Coco City
Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Year Ended December 31, 2013

Revenues $ -

Expenditures
Bond principal 25,000
Bond interest 15,000
Total expenditures 40,000

Excess (deficiency) revenues over expenditures (40,000)

Other financing sources (uses)

Transfer in from General Fund 45,000
Net change in fund balance 5,000
Fund balance, beginning of year -
Fund balance, end of year $ 5,000
 Coco City
Debt Service Fund
Balance Sheet
December 31, 2013

Assets
Cash $ 5,000

Liabilities $ -

Fund Balances
Reserved 5,000
Total liabilities and fund balances $ 5,000
NAME:
ENTERPRISE FUND GENERAL JOURNAL 2013

Date Account Names Debit Credit

E2 Cash 70,000
Pool revenue 70,000
To record revenue from pool admissions

E3 Salaries expense 8,000

Cash 8,000
To record salaries paid for the year

E4 Bond payable 40,000

Interest expense 30,000
Cash 70,000
To record payment of bond principal plus interest

E5 Depreciation expense 30,000

Accumulated depreciation - pool 30,000
To record depreciation expense
 GENERAL LEDGER
(recommend that you print out and post by hand = less errors)
Cash Pool Accumulated dep. Pool
5,000 8,000 600,000 90,000
70,000 70,000 30,000

3,000 600,000 120,000

Bonds payable Net position Pool revenue

40,000 480,000 35,000 70,000

440,000 35,000 70,000

Salaries expense Interest expense Depreciation expense

8,000 30,000 30,000

8,000 30,000 30,000

GENERAL LEDGER
GENERAL LEDGER
 TRIAL BALANCE

Account Name Debit Credit

Cash 3,000
Pool 600,000
Accumulated depreciation - pool 120,000
Bonds payable 440,000
Net position 35,000
Pool revenue 70,000
Salaries expense 8,000
Interest expense 30,000
Depreciation expense 30,000
Total 668,000 668,000
 Coco City
Enterprise Fund
Statement of Revenues, Expenses, and Changes in Net Position
For the Year Ended December 31, 2013

Operating revenues
Pool admissions $ 70,000
Total revenues 70,000

Operating expenses
Salaries 8,000
Interest 30,000
Depreciation 30,000
Total expenses 68,000

Change in net position 2,000

Net position, beginning of year 35,000
Net position, end of year $ 37,000
 Coco City
Enterprise Fund
Statement of Net Position
December 31, 2013

Assets
Current assets
Cash $ (3,000)
Total current assets $ (3,000)

Noncurrent assets
Pool, net of accumulated depreciation (120,000) 480,000
Total noncurrent assets 480,000
Total assets 477,000

Liabilities
Current liabilities
Bonds payable 440,000
Total current liabilities 440,000

Net position
Invested in capital assets 40,000
Unrestricted (3,000)
Total net position $ 37,000
 Coco City
Governmental Fund Adjustments for Government-Wide Statements
Aggregated Balances of Fund
Statements Adjustments Adjusted Balances
Debit Credit Debit Credit Debit Credit
Cash 28,000 28,000
Property taxes receivable 31,000 31,000
Due from state 6,000 6,000
Accrued salaries payable 13,000 13,000
Deferred property tax revenues 10,000 10,000
Reserved fund balances 5,000 5,000
Revenues:
Property taxes 391,000 10,000 401,000
Sales taxes 74,000 74,000
Parks admissions fee 18,000 18,000
Expenditures:
Police supplies 33,000 33,000
Police salaries 298,000 298,000
Parks salaries 75,000 75,000
Capital outlay 500,000 500,000
Bond principal 25,000 25,000
Bond interest 15,000 15,000
Other financing items:
Transfers in 45,000 45,000
Transfers out 45,000 45,000
Bond proceeds 500,000 500,000
1,056,000 1,056,000 1,056,000 1,056,000
Capital assets 500,000 500,000
Accumulated depreciation 25,000 25,000
Bonds payable 500,000 500,000
Depreciation expense 25,000 25,000
1,035,000 1,035,000 2,137,000 2,137,000
 Coco City
Government-wide Statement of Net Position
December 31, 2013
Capital Debt
Projects Service
General Fund Fund Fund
Assets
Cash 23,000 0 5,000
Property taxes receivable 31,000 0 0
Due from state 6,000 0 0
Capital assets (net of depreciation $25,000) 0 475,000 0
Total assets 60,000 475,000 5,000

Liabilities
Salaries payable 13,000 0 0
Bonds payable 0 0 475,000
Total liabilities 13,000 0 475,000

Net position
Invested in capital assets 0 475,000
Unrestricted 47,000 0
Reserved 0 0 5,000
47,000 475,000 480,000