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.

Evaluate the feasibility and consistency of financial plans.

Understand the relationship between financial planning, growth, and company-specific financial policies.

Understand the concept of productivity and how it can be improved.

Calculate productivity measures for various scenarios.

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Definitions:

Learning

Learning is the process of acquiring new, or modifying existing, knowledge, behaviors, skills, values, or preferences.

Skills

The abilities and expertise developed through practice and learning, enabling efficient and effective task performance.

Frontotemporal NCD

A type of neurocognitive disorder primarily affecting the frontal and temporal lobes of the brain, characterized by significant changes in behavior, personality, and/or language.

Deterioration

The process of becoming progressively worse.