For use with McGraw Hill
Accounting for Governmental & Nonprofit Entities
19th Edition
By Jacqueline L. Reck, Suzanne L. Lowensohn, and Daniel G. Neely
Journals & Ledgers
City of Bingham
Full Version
Computerized Cumulative Problem
Year Ref Posted Acct# – Name Description Debits Credits
2022 101 X 1010 – Cash 2b 742,125
2022 101 X 1030 – Taxes Receivable-Delinquent 2b 426,250
2022 101 X 1031 – Allowance for Uncollectible Delinquent Taxes 2b 36,231
2022 101 X 1040 – Interest and Penalties Receivable on Taxes 2b 28,772
2022 101 X 1041 – Allowance for Uncollectible Interest and Penalties 2b 2,589
2022 101 X 1045 – Sales Taxes Receivable 2b 14,132
2022 101 X 2010 – Vouchers Payable 2b 260,210
2022 101 X 2030 – Due to Other Funds 2b 19,400
2022 101 X 2500 – Deferred Inflows of Resources 2b 441,202
2022 101 X 2531 – Fund Balance-Committed-Public Safety 2b 18,275
2022 101 X 2534 – Fund Balance-Committed-Culture and Recreation 2b 22,650
2022 101 X 2543 – Fund Balance-Assigned-Health and Welfare 2b 24,750
2022 101 X 2550 – Fund Balance-Unassigned 2b 385,972
2023 102 X 3010 – Estimated Revenues 3a 10,619,500
2023 103 X 4010 – Revenues 4a-1 7,672,500
2023 104 X 1010 – Cash 4a-2 500,000
2023 104 X 2020 – Tax Anticipation Notes Payable 4a-2 500,000
2023 105 X 7010 – Encumbrances 4a-3 3,819,600
2023 105 X 2600 – Encumbrances Outstanding 4a-3 3,819,600
2023 106 X 2500 – Deferred Inflows of Resources 4a-4 25,000
2023 106 X 4010 – Revenues 4a-4 25,000
2023 107 X 2010 – Vouchers Payable 4a-5 245,654
2023 107 X 1010 – Cash 4a-5 245,654
2023 108 X 1010 – Cash 4a-6 8,470,860
2023 108 X 1020 – Taxes Receivable-Current 4a-6 7,302,000
General Journal
City of Bingham
1 – General Fund
General Journal Prepared by: Instructor Page 1 of 3
Year Ref Posted Acct# – Name Description Debits Credits
2023 110 X 1010 – Cash 4a-7 2,124,750
2023 110 X 4010 – Revenues 4a-7 2,124,750
2023 112 X 1040 – Interest and Penalties Receivable on Taxes 4a-9 1,350
2023 113 X 6010 – Expenditures 4a-10 6,673,038
2023 113 X 2040 – Due to Federal Government 4a-10 2,155,391
2023 113 X 2050 – Due to State Government 4a-10 802,056
2023 113 X 1010 – Cash 4a-10 3,715,591
2023 114 X 2600 – Encumbrances Outstanding 4a-11 3,786,780
2023 114 X 7010 – Encumbrances 4a-11 3,786,780
2023 115 X 1010 – Cash 4a-12 6,472,447
2023 116 X 6160 – Other Financing Uses-Interfund Transfers Out 4a-13 75,000
2023 116 X 1010 – Cash 4a-13 75,000
2023 116 X 2020 – Tax Anticipation Notes Payable 4a-14 500,000
2023 116 X 6010 – Expenditures 4a-14 10,000
2023 116 X 1010 – Cash 4a-14 510,000
2023 116 X 6010 – Expenditures 4a-15 35,000
2023 116 X 2030 – Due to Other Funds 4a-15 35,000
2023 117 X 1100 – Inventory of Supplies 4a-16 7,000
2023 117 X 2510 – Fund Balance-Nonspendable-Inventory of Supplies 4a-16 7,000
General Journal
City of Bingham
1 – General Fund
General Journal Prepared by: Instructor Page 2 of 3
Year Ref Posted Acct# – Name Description Debits Credits
2023 119 X 1041 – Allowance for Uncollectible Interest and Penalties 4a-18 10,750
2023 119 X 2500 – Deferred Inflows of Resources 4a-18 48,830
2023 119 X 1045 – Sales Taxes Receivable 4a-18 21,722
2023 121 X 5160 – Estimated Other Financing Uses-Interfund Transfers Out Closing Entry 75,000
2023 121 X 3010 – Estimated Revenues Closing Entry 10,625,000
2023 121 X 2560 – Budgetary Fund Balance Closing Entry 21,000
2023 122 X 4010 – Revenues Closing Entry 10,628,200
2023 122 X 6160 – Other Financing Uses-Interfund Transfers Out Closing Entry 75,000
2023 122 X 6010 – Expenditures Closing Entry 10,499,878
2023 122 X 2550 – Fund Balance-Unassigned Closing Entry 53,322
2023 123 X 2534 – Fund Balance-Committed-Culture and Recreation Closing Entry 22,650
General Journal
City of Bingham
1 – General Fund
General Journal Prepared by: Instructor Page 3 of 3
Year Ref Account Description Debits Credits Balance
Dr(Cr)
Cash
2022 101 2b 742,125 742,125
2023 104 4a-2 500,000 1,242,125
2023 107 4a-5 245,654 996,471
2023 115 4a-12 6,472,447 1,384,643
2023 116 4a-13 75,000 1,309,643
2023 116 4a-14 510,000 799,643
Taxes Receivable-Current
2023 103 4a-1 7,750,000 7,750,000
2023 108 4a-6 7,302,000 448,000
2023 118 4a-17 448,000 0
Allowance for Uncollectible Current Taxes
Taxes Receivable-Delinquent
2022 101 2b 426,250 426,250
2023 108 4a-6 378,000 48,250
2023 112 4a-9 18,000 30,250
2023 118 4a-17 448,000 478,250
Allowance for Uncollectible Delinquent Taxes
Interest and Penalties Receivable on Taxes
2022 101 2b 28,772 28,772
2023 108 4a-6 22,860 5,912
2023 112 4a-9 1,350 4,562
General Ledger
City of Bingham
1 – General Fund
General Ledger Prepared by: Instructor Page 1 of 5
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2023 119 4a-18 59,580 64,142
Allowance for Uncollectible Interest and Penalties
Sales Taxes Receivable
2022 101 2b 14,132 14,132
2023 108 4a-6 14,132 0
2023 119 4a-18 21,722 21,722
Inventory of Supplies
2023 117 4a-16 7,000 7,000
Vouchers Payable
Tax Anticipation Notes Payable
2023 104 4a-2 500,000 (500,000)
2023 116 4a-14 500,000 0
Due to Other Funds
Due to Federal Government
2023 113 4a-10 2,155,391 (2,155,391)
2023 115 4a-12 2,155,391 0
Due to State Government
General Ledger
City of Bingham
1 – General Fund
General Ledger Prepared by: Instructor Page 2 of 5
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2023 115 4a-12 802,056 0
Deferred Inflows of Resources
Fund Balance-Nonspendable-Inventory of Supplies
2023 117 4a-16 7,000 (7,000)
Fund Balance-Committed-Public Safety
2022 101 2b 18,275 (18,275)
2023 123 Closing Entry 2,025 (20,300)
Fund Balance-Committed-Public Works
2023 123 Closing Entry 13,790 (13,790)
Fund Balance-Committed-Culture and Recreation
Fund Balance-Assigned-Health and Welfare
2022 101 2b 24,750 (24,750)
2023 123 Closing Entry 5,250 (19,500)
Fund Balance-Unassigned
2022 101 2b 385,972 (385,972)
2023 122 Closing Entry 53,322 (439,294)
2023 123 Closing Entry 12,085 (451,379)
Budgetary Fund Balance
General Ledger
City of Bingham
1 – General Fund
Year Ref Account Description Debits Credits Balance
Dr(Cr)
Encumbrances Outstanding
2023 105 4a-3 3,819,600 (3,819,600)
2023 114 4a-11 3,786,780 (32,820)
Estimated Revenues
Revenues
2023 103 4a-1 7,672,500 (7,672,500)
2023 106 4a-4 25,000 (7,697,500)
2023 108 4a-6 753,868 (8,451,368)
2023 119 4a-18 21,722 (10,628,20
0)
2023 122 Closing Entry 10,628,200 0
Appropriations
2023 102 3a 10,530,000 (10,530,00
0)
2023 120 4a-19 1,000 (10,529,00
0)
2023 121 Closing Entry 10,529,000 0
Estimated Other Financing Uses-Interfund Transfers Out
2023 102 3a 75,000 (75,000)
2023 121 Closing Entry 75,000 0
Expenditures
General Ledger
City of Bingham
1 – General Fund
General Ledger Prepared by: Instructor Page 4 of 5
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2023 116 4a-15 35,000 10,499,878
2023 122 Closing Entry 10,499,878 0
Other Financing Uses-Interfund Transfers Out
Encumbrances
2023 105 4a-3 3,819,600 3,819,600
2023 114 4a-11 3,786,780 32,820
General Ledger
City of Bingham
1 – General Fund
General Ledger Prepared by: Instructor Page 5 of 5
Ref Year Account Description Est. Revenues Dr(Cr) Revenues Cr(Dr) Balance
Dr(Cr)
Estimated Revenues-Property Taxes
102 2023 Budget authorization 7,672,500 7,672,500
103 2023 Accrued revenue 7,672,500 0
109 2023 Previous deferral 378,000 (378,000)
Estimated Revenues-Sales Taxes
102 2023 Budget authorization 775,000 775,000
108 2023 Received in cash 753,868 21,132
119 2023 Accrued revenue 21,722 (590)
121 2023 Closing Entry (775,000) (775,590)
122 2023 Closing Entry (775,590) 0
Estimated Revenues-Interest and Penalties on Taxes
Estimated Revenues-Licenses and Permits
102 2023 Budget authorization 485,000 485,000
110 2023 Received in cash 479,000 6,000
120 2023 Budget amendment (6,000) 0
121 2023 Closing Entry (479,000) (479,000)
122 2023 Closing Entry (479,000) 0
Estimated Revenues-Fines and Forfeits
102 2023 Budget authorization 515,000 515,000
Revenues Ledger
City of Bingham
1 – General Fund
Revenues Ledger Prepared by: Instructor Page 1 of 2
Ref Year Account Description Est. Revenues Dr(Cr) Revenues Cr(Dr) Balance
Dr(Cr)
Estimated Revenues-Intergovernmental Revenue
102 2023 Budget authorization 545,000 545,000
106 2023 Previous deferral 25,000 520,000
Estimated Revenues-Charges for Services
102 2023 Budget authorization 385,000 385,000
110 2023 Received in cash 385,750 (750)
121 2023 Closing Entry (385,000) (385,750)
122 2023 Closing Entry (385,750) 0
Estimated Revenues-Miscellaneous Revenues
Revenues Ledger
City of Bingham
1 – General Fund
Revenues Ledger Prepared by: Instructor Page 2 of 2
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 2,605,000 2,605,000
105 Purchase orders 395,000 395,000 2,210,000
113 Payroll 2,200,376 2,200,376 9,624
114 Elimination 393,060 1,940 402,684
Appropriations-Public Safety
102 Budget authorization 3,785,000 3,785,000
105 Purchase orders 1,055,000 1,055,000 2,730,000
113 Payroll 2,731,644 2,731,644 (1,644)
Appropriations-Public Works
102 Budget authorization 1,795,000 1,795,000
105 Purchase orders 980,750 980,750 814,250
121 Closing Entry (1,790,000) (1,793,411)
122 Closing Entry (1,778,281) 0 (15,130)
Appropriations-Health and
Welfare
102 Budget authorization 1,165,000 1,165,000
105 Purchase orders 665,725 665,725 499,275
113 Payroll 501,673 501,673 (2,398)
Appropriations Ledger
City of Bingham
1 – General Fund
Appropriations Ledger Prepared by: Instructor Page 1 of 2
Ref Account Description Enc.
Increase
Enc.
Decrease
Enc.
Balance
Exp.
Dr(Cr)
Exp.
Balance
Approp.
Cr(Dr)
Balance
Cr(Dr)
114 Elimination 663,600 2,125 661,202
114 Goods received 661,200 1,162,873 2
Appropriations-Culture and
Recreation
102 Budget authorization 1,075,000 1,075,000
105 Purchase orders 625,125 625,125 449,875
113 Payroll 448,864 448,864 1,011
114 Elimination 617,000 8,125 618,011
Appropriations-Miscellaneous
102 Budget authorization 105,000 105,000
105 Purchase orders 98,000 98,000 7,000
114 Elimination 98,000 0 105,000
114 Goods received 98,000 98,000 7,000
116 Utilities and other 10,000 108,000 (3,000)
120 Budget amendment 3,000 0
Appropriations Ledger
City of Bingham
1 – General Fund
Appropriations Ledger Prepared by: Instructor Page 2 of 2
Year Ref Posted Acct# – Name Description Debits Credits
2023 101 X 1010 – Cash 5a-1 7,500,000
2023 101 X 4020 – Other Financing Sources-Proceeds of Bonds 5a-1 7,500,000
2023 101 X 1070 – Investments 5a-2 5,000,000
2023 101 X 6130 – Construction Expenditures 5a-5 149,000
2023 101 X 2060 – Vouchers Payable 5a-5 149,000
2023 102 X 2520 – Encumbrances Outstanding 5a-6 110,000
2023 102 X 7110 – Encumbrances 5a-6 110,000
2023 102 X 6130 – Construction Expenditures 5a-6 110,000
2023 103 X 2060 – Vouchers Payable 5a-8 115,000
2023 104 X 1010 – Cash 5a-9 5,032,500
2023 104 X 4010 – Revenues 5a-9 32,500
2023 104 X 1070 – Investments 5a-9 5,000,000
2023 105 X 2520 – Encumbrances Outstanding 5a-10 3,000,000
2023 105 X 7110 – Encumbrances 5a-10 3,000,000
2023 105 X 6130 – Construction Expenditures 5a-10 3,000,000
2023 105 X 2080 – Contracts Payable 5a-10 3,000,000
2023 106 X 7110 – Encumbrances 5a-13 375,000
2023 106 X 2520 – Encumbrances Outstanding 5a-13 375,000
2023 106 X 2520 – Encumbrances Outstanding 5a-14 3,200,000
2023 106 X 7110 – Encumbrances 5a-14 3,200,000
General Journal
City of Bingham
3 – City Hall Annex Construction Fund
General Journal Prepared by: Instructor Page 1 of 2
Year Ref Posted Acct# – Name Description Debits Credits
2023 106 X 6130 – Construction Expenditures 5a-14 3,300,000
2023 106 X 2080 – Contracts Payable 5a-14 3,300,000
2023 107 X 2080 – Contracts Payable 5a-15 3,300,000
2023 107 X 2090 – Contracts Payable-Retained Percentage 5a-15 150,000
2023 108 X 1010 – Cash 5a-17 375,500
2023 109 X 6160 – Other Financing Uses-Interfund Transfers Out 5a-18 8,000
2023 109 X 1010 – Cash 5a-18 8,000
2023 110 X 4020 – Other Financing Sources-Proceeds of Bonds Closing Entry 7,500,000
2023 110 X 4010 – Revenues Closing Entry 32,500
2023 110 X 6130 – Construction Expenditures Closing Entry 7,524,500
2023 110 X 6160 – Other Financing Uses-Interfund Transfers Out Closing Entry 8,000
General Journal
City of Bingham
3 – City Hall Annex Construction Fund
General Journal Prepared by: Instructor Page 2 of 2
Year Ref Account Description Debits Credits Balance
Dr(Cr)
Cash
2023 101 5a-1 7,500,000 7,500,000
2023 101 5a-2 5,000,000 2,500,000
2023 104 5a-9 5,032,500 7,532,500
2023 106 5a-11 2,850,000 4,682,500
Investments
2023 101 5a-2 5,000,000 5,000,000
2023 104 5a-9 5,000,000 0
Vouchers Payable
2023 101 5a-3 475,000 (475,000)
2023 101 5a-5 149,000 (624,000)
2023 102 5a-6 110,000 (734,000)
Contracts Payable
2023 105 5a-10 3,000,000 (3,000,000)
2023 106 5a-11 3,000,000 0
2023 106 5a-14 3,300,000 (3,300,000)
2023 107 5a-15 3,300,000 0
Contracts Payable-Retained Percentage
Encumbrances Outstanding
2023 101 5a-4 225,000 (225,000)
2023 102 5a-6 110,000 (115,000)
General Ledger
City of Bingham
3 – City Hall Annex Construction Fund
General Ledger Prepared by: Instructor Page 1 of 3
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2023 102 5a-7 6,200,000 (6,315,000)
2023 103 5a-8 115,000 (6,200,000)
2023 105 5a-10 3,000,000 (3,200,000)
2023 107 5a-16 375,000 0
Revenues
2023 104 5a-9 32,500 (32,500)
2023 110 Closing Entry 32,500 0
Other Financing Sources-Proceeds of Bonds
2023 101 5a-1 7,500,000 (7,500,000)
2023 110 Closing Entry 7,500,000 0
Construction Expenditures
2023 101 5a-3 475,000 475,000
2023 101 5a-5 149,000 624,000
2023 102 5a-6 110,000 734,000
Other Financing Uses-Interfund Transfers Out
2023 109 5a-18 8,000 8,000
2023 110 Closing Entry 8,000 0
Encumbrances
2023 101 5a-4 225,000 225,000
2023 102 5a-6 110,000 115,000
2023 102 5a-7 6,200,000 6,315,000
2023 103 5a-8 115,000 6,200,000
City of Bingham
3 – City Hall Annex Construction Fund
Year Ref Account Description Debits Credits Balance
Dr(Cr)
2023 106 5a-14 3,200,000 375,000
2023 107 5a-16 375,000 0
General Ledger
City of Bingham
3 – City Hall Annex Construction Fund
General Ledger Prepared by: Instructor Page 3 of 3
Year Ref Posted Acct# – Name Description Debits Credits
2022 101 X 1010 – Cash 6a 950,000
2022 101 X 1030 – Taxes Receivable-Delinquent 6a 87,625
2022 101 X 1031 – Allowance for Uncollectible Delinquent Taxes 6a 7,450
2023 102 X 3110 – Estimated Revenues-Taxes 6b-1 704,000
2023 102 X 3115 – Estimated Revenues-Interest and Penalties on Taxes 6b-1 2,000
2023 102 X 3120 – Estimated Revenues-Investment Income 6b-1 5,000
2023 102 X 3410 – Estimated Other Financing Sources-Premium on Bonds 6b-1 50,000
2023 102 X 3420 – Estimated Other Financing Sources-Interfund Transfers In 6b-1 75,000
2023 102 X 5010 – Appropriations 6b-1 698,750
2023 102 X 2520 – Budgetary Fund Balance 6b-1 137,250
2023 103 X 1020 – Taxes Receivable-Current 6b-2 704,545
2023 104 X 1040 – Interest and Penalties Receivable on Taxes 6b-5 630
2023 104 X 2500 – Deferred Inflows of Resources 6b-5 9,900
2023 104 X 4110 – Revenues-Taxes 6b-5 9,900
2023 112 X 2500 – Deferred Inflows of Resources 6b-5 630
2023 112 X 4115 – Revenues-Interest and Penalties on Taxes 6b-5 630
2023 105 X 6100 – Expenditures-Bond Principal 6b-6 250,000
2023 105 X 6110 – Expenditures-Bond Interest 6b-6 63,750
2023 105 X 1010 – Cash 6b-6 313,750
General Journal
City of Bingham
4 – Debt Service Fund
General Journal Prepared by: Instructor Page 1 of 2
Year Ref Posted Acct# – Name Description Debits Credits
2023 107 X 1010 – Cash 6b-9 75,000
2023 107 X 4420 – Other Financing Sources-Interfund Transfers In 6b-9 75,000
2023 107 X 6110 – Expenditures-Bond Interest 6b-9 75,000
2023 107 X 1010 – Cash 6b-9 75,000
2023 109 X 1010 – Cash 6b-11 310,000
2023 110 X 1030 – Taxes Receivable-Delinquent 6b-12 9,045
2023 110 X 1021 – Allowance for Uncollectible Current Taxes 6b-12 6,500
2023 110 X 1020 – Taxes Receivable-Current 6b-12 9,045
2023 110 X 1031 – Allowance for Uncollectible Delinquent Taxes 6b-12 6,500
2023 110 X 4110 – Revenues-Taxes 6b-12 2,545
2023 110 X 2500 – Deferred Inflows of Resources 6b-12 2,545
2023 110 X 1040 – Interest and Penalties Receivable on Taxes 6b-12 1,200
2023 110 X 1041 – Allowance for Uncollectible Interest and Penalties 6b-12 120
2023 110 X 2500 – Deferred Inflows of Resources 6b-12 1,080
2023 111 X 5010 – Appropriations Closing Entry 698,750
2023 111 X 3110 – Estimated Revenues-Taxes Closing Entry 704,000
2023 111 X 3115 – Estimated Revenues-Interest and Penalties on Taxes Closing Entry 2,000
2023 111 X 3120 – Estimated Revenues-Investment Income Closing Entry 5,000
2023 111 X 3410 – Estimated Other Financing Sources-Premium on Bonds Closing Entry 50,000
2023 111 X 3420 – Estimated Other Financing Sources-Interfund Transfers In Closing Entry 83,000
2023 111 X 2520 – Budgetary Fund Balance Closing Entry 145,250
2023 113 X 4110 – Revenues-Taxes Closing Entry 705,400
2023 113 X 4115 – Revenues-Interest and Penalties on Taxes Closing Entry 630
2023 113 X 4120 – Revenues-Investment Income Closing Entry 5,000
2023 113 X 4410 – Other Financing Sources-Premium on Bonds Closing Entry 50,225
2023 113 X 4420 – Other Financing Sources-Interfund Transfers In Closing Entry 83,000
2023 113 X 6100 – Expenditures-Bond Principal Closing Entry 500,000
2023 113 X 6110 – Expenditures-Bond Interest Closing Entry 198,750
2023 113 X 2510 – Fund Balance-Restricted Closing Entry 145,505
General Journal
City of Bingham
4 – Debt Service Fund
General Journal Prepared by: Instructor Page 2 of 2