Following Is a List of Selected Transactions for the City

question 49

Essay

Following is a list of selected transactions for the City of Alpena:
a.The city used general property taxes to purchase a computer for the police department. The cost of the computer was $30,000. It was not encumbered.
b.Joseph Green donated land and a building to the city with book values of $25,000 and $150,000, respectively. When the gift was made, the appraisal values were $35,000 for the land and $135,000 for the building.
c.The city sold an old police car originally purchased by the General Fund for $10,000. The selling price was $2,500.Required:Make the necessary journal entries in the funds and account groups affected.

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Definitions:

Rewards and Punishments

Methods used in behavior management, aiming to encourage desirable actions through rewards and discourage undesired actions through punishments.

Similarity

The degree to which two or more things are alike, sharing attributes, characteristics, or qualities.

World Views

Broad beliefs and perspectives through which individuals interpret and understand the world around them.

Sibling Structure

The makeup of a family in terms of number, age, and gender of brothers and sisters, influencing personality and behavioral development.