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:

Neurotransmitters

Neurotransmitters are chemical messengers in the brain that transmit signals across synapses from one neuron to another, influencing mental processes and behavior.

Motor Nerves

Nerves that carry signals from the brain to muscles to facilitate movement.

Hydrocarbons

Organic compounds consisting entirely of hydrogen and carbon, and are the basic constituents of many fuels, plastics, and synthetic materials.

Nicotine Addict

An individual who is dependent on nicotine, a substance found in tobacco, characterized by compulsive use despite harmful consequences.