Problem 16-18 (LO 4) Various funds and account groups. The following information relates to Dane City during its fiscal year ended December 31, 20X9:

a.     On October 31, 20X9, to finance the construction of a city hall annex, Dane issued 8%, 10- year general obligation bonds at their face value of $600,000. Construction expenditures during the period equaled $364,000.

b.     Dane reported $109,000 from hotel room taxes, restricted for tourist promotion, in a spe- cial revenue fund. The fund paid $81,000 for general promotions and $22,000 for a motor vehicle.

c.     20X9 general fund revenues of $104,500 were transferred to a debt service fund and used to repay $100,000 of 9%, 15-year term bonds and $4,500 of interest. The bonds were used to acquire a citizens’ center.

 

 

 

d.     At December 31, 20X9, as a consequence of past services, city firefighters had accumulated entitlements to compensated absences valued at $86,000. General fund resources available at December 31, 20X9, are expected to be used to settle $17,000 of this amount, and

$69,000 is expected to be paid out of future general fund resources.

e.    At December 31, 20X9, Dane was responsible for $83,000 of outstanding general fund encumbrances, including $8,000 for the following supplies.

f.    Dane uses the purchases method to account for supplies. The following information relates to supplies:

 

 

Inventory:

 

 

January 1, 20X9 . . . . . . . . . . . . . . . . . . . . . . . . . . .                       $  39,000

December 31, 20X9 . . . . . . . . . . . . . . . . . . . . . . . .                           42,000

 

Encumbrances  outstanding:

 

January 1, 20X9 . . . . . . . . . . . . . . . . . . . . . . . . . . .	6,000
December 31, 20X9 . . . . . . . . . . . . . . . . . . . . . . . .	8,000
Purchase orders during 20X9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	190,000
Amounts credited to vouchers payable during 20X9 . . . . . . . . . . . .	181,000

 

 

1.    The amount of 20X9 general fund operating transfers-out is                    .

2.    The 20X9 general fund liabilities from entitlements for compensated absences are

                    .

3.    The 20X9 reserved amount of the general fund balance is                     .

4.    The 20X9 capital projects fund balance is                     .

5.    The 20X9 fund balance on the special revenue fund for tourist promotion is

                    .

6.    The amount of 20X9 debt service fund expenditures is                     .

7.    The amount to be included in the general fixed assets account group for the cost of assets acquired in 20X9 is           .

8.    The amount by which 20X9 transactions and events decreased the general long-term debt account group is  .

9.    The amount of 20X9 supplies expenditures using the purchases method is                     .

10.     The total amount of 20X9 supplies encumbrances is                     .

 

Required

 

(AICPA adapted)