1
For use with McGraw–Hill Education
Accounting for Governmental & Nonprofit Entities
18th Edition
By Jacqueline L. Reck, Suzanne L. Lowensohn, and Daniel G. Neely
Journals and
Ledgers
City of Bingham
Computerized Cumulative Problem
General Journal
Year Ref Posted Acct# – Name Description Debits Credits
2020 106 X 1031 – Allowance for Uncollectible Delinquent Taxes 4a-8 18,000
2020 107 X 2010 – Vouchers Payable 4a-10 3,817,840
2020 108 X 2010 – Vouchers Payable 4a-11 3,210,000
2020 108 X 2040 – Due to Federal Government 4a-11 1,832,391
2020 108 X 2050 – Due to State Government 4a-11 681,863
2020 108 X 1010 – Cash 4a-11 5,724,254
2020 109 X 1021 – Allowance for Uncollectible Current Taxes 4a-16 283,000
2020 109 X 1020 – Taxes Receivable-Current 4a-16 591,000
2020 109 X 1031 – Allowance for Uncollectible Delinquent Taxes 4a-16 283,000
2020 109 X 4010 – Revenues 4a-16 308,000
2020 109 X 2500 – Deferred Inflows of Resources 4a-16 308,000
General Journal
City of Bingham
1 – General Fund
2020 110 X 2560 – Budgetary Fund Balance 4a-17 5,000
2020 111 X 5010 – Appropriations Closing Entry 9,600,000
2020 111 X 5160 – Estimated Other Financing Uses-Interfund Transfers Out Closing Entry 50,000
2020 111 X 2560 – Budgetary Fund Balance Closing Entry 61,000
2020 111 X 3010 – Estimated Revenues Closing Entry 9,711,000
2020 112 X 4010 – Revenues Closing Entry 9,734,360
2020 112 X 6010 – Expenditures Closing Entry 9,550,878
2020 112 X 2550 – Fund Balance-Unassigned Closing Entry 183,482
2020 113 X 2550 – Fund Balance-Unassigned Closing Entry 50,000
2020 113 X 6160 – Other Financing Uses-Interfund Transfers Out Closing Entry 50,000
2020 114 X 2531 – Fund Balance-Committed-Public Safety Closing Entry 4,450
2020 114 X 2550 – Fund Balance-Unassigned Closing Entry 54,668
2020 114 X 2544 – Fund Balance-Assigned-Culture and Recreation Closing Entry 57,650
2020 114 X 2543 – Fund Balance-Assigned-Health and Welfare Closing Entry 318
2020 114 X 2532 – Fund Balance-Committed-Public Works Closing Entry 1,150
General Journal
City of Bingham
1 – General Fund
General Journal Prepared by: Author Page 3 of 3
Year Ref Account Description Debits Credits Balance
2020 109 4a-13 510,000 954,922
Taxes Receivable-Current
2020 103 4a-1 7,075,000 7,075,000
2020 103 4a-6 6,484,000 591,000
2020 109 4a-16 591,000 0
2020 106 4a-8 18,000 (18,795)
2020 109 4a-16 283,000 (301,795)
Interest and Penalties Receivable on Taxes
2019 101 2b 26,059 26,059
2020 103 4a-6 23,860 2,199
General Ledger
City of Bingham
1 – General Fund
2020 106 4a-8 1,300 (134)
2020 109 4a-16 10,500 (10,634)
Inventory of Supplies
2020 109 4a-15 12,000 12,000
Vouchers Payable
2020 109 4a-14 50,000 (50,000)
Due to Federal Government
2020 106 4a-9 1,832,391 (1,832,391)
2020 108 4a-11 1,832,391 0
Due to State Government
General Ledger
City of Bingham
1 – General Fund
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2020 109 4a-16 308,000 (311,720)
2020 109 4a-16 46,080 (357,800)
Fund Balance-Nonspendable-Inventory of Supplies
Fund Balance-Assigned-Culture and Recreation
2020 114 Closing Entry 57,650 (57,650)
Fund Balance-Unassigned
2019 101 2b 85,972 (85,972)
2020 112 Closing Entry 183,482 (269,454)
General Ledger
City of Bingham
1 – General Fund
Year Ref Account Description Debits Credits Balance
Dr(Cr)
0)
2020 109 4a-16 308,000 (9,734,360)
2020 112 Closing Entry 9,734,360 0
Appropriations
2020 102 3a 9,605,000 (9,605,000)
2020 112 Closing Entry 9,550,878 0
Other Financing Uses-Interfund Transfers Out
2020 109 4a-12 50,000 50,000
2020 113 Closing Entry 50,000 0
Encumbrances
General Ledger
City of Bingham
1 – General Fund
General Ledger
City of Bingham
1 – General Fund
Ref Year Account Description Est. Revenues Dr(Cr) Revenues Cr(Dr) Balance
Dr(Cr)
Estimated Revenues-Taxes-Real Property
110 2020 Budget amendment (25,000) 2,000
111 2020 Closing Entry (750,000) (748,000)
112 2020 Closing Entry (748,000) 0
Estimated Revenues-Interest and Penalties on Taxes
102 2020 Budget authorization 49,000 49,000
102 2020 Budget authorization 515,000 515,000
103 2020 Received in cash 519,000 (4,000)
111 2020 Closing Entry (515,000) (519,000)
112 2020 Closing Entry (519,000) 0
Estimated Revenues-Intergovernmental Revenue
City of Bingham
1 – General Fund
112 2020 Closing Entry (545,000) 0
Estimated Revenues-Charges for Services
102 2020 Budget authorization 350,000 350,000
103 2020 Received in cash 361,000 (11,000)
111 2020 Closing Entry (350,000) (361,000)
Revenues Ledger
City of Bingham
1 – General Fund
Ref Account Description Enc.
Increase
Enc.
Decrease
Enc.
Balance
Exp.
Dr(Cr)
Exp.
Balance
Approp.
Cr(Dr)
Balance
Cr(Dr)
Appropriations-General
Government
102 Budget authorization 3,675,000 3,675,000
103 Purchase orders 1,095,000 1,095,000 2,580,000
106 Payroll 2,531,644 2,531,644 48,356
107 Elimination 1,088,600 6,400 1,136,956
107 Goods received 1,086,650 3,618,294 50,306
111 Closing Entry (1,775,000) (1,770,911)
112 Closing Entry (1,752,781) 0 (18,130)
Appropriations-Health and
Welfare
102 Budget authorization 1,065,000 1,065,000
Appropriations Ledger
City of Bingham
1 – General Fund
2020 101 X 2060 – Vouchers Payable 5a-3 450,000
2020 101 X 7110 – Encumbrances 5a-4 350,000
2020 101 X 2520 – Encumbrances Outstanding 5a-4 350,000
2020 101 X 6130 – Construction Expenditures 5a-5 165,000
2020 101 X 2060 – Vouchers Payable 5a-5 165,000
2020 101 X 1010 – Cash 5a-9 5,037,500
2020 101 X 1070 – Investments 5a-9 5,000,000
2020 101 X 4010 – Revenues 5a-9 37,500
2020 102 X 2520 – Encumbrances Outstanding 5a-10 3,000,000
2020 102 X 7110 – Encumbrances 5a-10 3,000,000
2020 104 X 7110 – Encumbrances 5a-14 3,000,000
General Journal Prepared by: Author Page 1 of 2
2020 106 X 2060 – Vouchers Payable 5a-17 475,500
2020 106 X 1010 – Cash 5a-17 475,500
2020 107 X 6160 – Other Financing Uses-Interfund Transfers Out 5a-18 4,000
2020 107 X 1010 – Cash 5a-18 4,000
2020 108 X 4010 – Revenues Closing Entry 37,500
General Journal
City of Bingham
3 – City Hall Annex Construction Fund
Dr(Cr)
Cash
2020 101 5a-1 7,500,000 7,500,000
2020 101 5a-2 5,000,000 2,500,000
2020 101 5a-9 5,037,500 7,537,500
2020 101 5a-5 165,000 (615,000)
2020 101 5a-6 103,000 (718,000)
2020 101 5a-8 240,000 (958,000)
2020 103 5a-12 958,000 0
2020 106 5a-16 475,500 (475,500)
2020 108 Closing Entry 7,496,000 7,496,000
2020 109 Closing Entry 7,496,000 0
General Ledger Prepared by: Author Page 1 of 3
General Ledger
City of Bingham
2019 101 X 2500 – Deferred Inflows of Resources 6a 39,640
2019 101 X 2510 – Fund Balance-Restricted 6a 950,000
2020 102 X 3110 – Estimated Revenues-Taxes 6b-1 700,000
2020 102 X 3115 – Estimated Revenues-Interest and Penalties on Taxes 6b-1 2,000
2020 102 X 3120 – Estimated Revenues-Investment Income 6b-1 9,000
2020 103 X 1010 – Cash 6b-4 500,000
2020 103 X 6110 – Expenditures-Bond Interest 6b-5 100,000
2020 103 X 1010 – Cash 6b-5 100,000
2020 103 X 1010 – Cash 6b-6 685,600
2020 103 X 1020 – Taxes Receivable-Current 6b-6 675,000
2020 103 X 4420 – Other Financing Sources-Interfund Transfers In 6b-9 50,000
General Journal Prepared by: Author Page 1 of 2
2020 105 X 1021 – Allowance for Uncollectible Current Taxes 6b-12 5,000
2020 105 X 1030 – Taxes Receivable-Delinquent 6b-12 30,000
2020 105 X 1031 – Allowance for Uncollectible Delinquent Taxes 6b-12 5,000
2020 105 X 1020 – Taxes Receivable-Current 6b-12 30,000
2020 105 X 4110 – Revenues-Taxes 6b-12 25,000
2020 106 X 3420 – Estimated Other Financing Sources-Interfund Transfers In Closing Entry 54,000
2020 107 X 4110 – Revenues-Taxes Closing Entry 685,000
2020 107 X 4115 – Revenues-Interest and Penalties on Taxes Closing Entry 600
2020 107 X 4120 – Revenues-Investment Income Closing Entry 7,500
2020 107 X 4410 – Other Financing Sources-Premium on Bonds Closing Entry 75,000
General Journal
City of Bingham
4 – Debt Service Fund