Old West City Had the Following Transactions in Fiscal 2014

question 33

Essay

Old West City had the following transactions in fiscal 2014.Assume that all expenditures were properly appropriated in the fiscal 2014 budget.
1.A six-month loan was made to the special revenue fund from the general fund amounting to $28,000.
2.A purchase order for landscaping maintenance services was issued in the amount of $43,000.
3.A $10,000 nonreciprocal transfer was made to the debt service fund to pay interest amounts outstanding.
4.The final invoice for landscaping maintenance was received in the amount of $39,000,and it was scheduled to be paid in 30 days.
5.The city enters into a capital lease of fixed assets for the general government.The present value of the minimum lease payments equals $70,000.
Required:
Prepare the journal entries for the General Fund.

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Definitions:

Personality Psychology

The branch of psychology that studies personality and its variation among individuals, focusing on psychological patterns, traits, and behaviors.

Psychiatry

A branch of medicine dealing with psychological disorders; practiced by physicians who sometimes provide medical (for example, drug) treatments as well as psychological therapy.

Psychological Perspectives

Various approaches and viewpoints in psychology for understanding human behavior and mental processes.

Behavior

The way in which one acts or conducts oneself, especially towards others.