Various funds and account groups. The following information relates to Dane City during its fiscal year ended December 31, 20X7:
a. On October 31, 20X7, to finance the construction of a city hall annex, Dane issued 8%, 10-year general obligation bonds at their face value of $600,000. Construction expenditures during the period equaled $364,000.
b. Dane reported $109,000 from hotel room taxes, restricted for tourist promotion, in a special revenue fund. The fund paid $81,000 for general promotions and $22,000 for a motor vehicle.
c. 20X7 general fund revenues of $104,500 were transferred to a debt service fund and used to repay $100,000 of 9%, 15-year term bonds and $4,500 of interest. The bonds were used to acquire a citizens’ center.
d. At December 31, 20X7, as a consequence of past services, city firefighters had accumulated entitlements to compensated absences valued at $86,000. General fund resources available at December 31, 20X7, are expected to be used to settle $17,000 of this amount, and $69,000 is expected to be paid out of future general fund resources.
e. At December 31, 20X7, Dane was responsible for $83,000 of outstanding general fund encumbrances, including $8,000 for the following supplies.
f. Dane uses the purchases method to account for supplies. The following information relates to supplies:
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Inventory: |
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January 1, 20X7 |
$ 39,000 |
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December 31, 20X7 |
42,000 |
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Encumbrances outstanding: |
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January 1, 20X7 |
6,000 |
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December 31, 20X7 |
8,000 |
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Purchase orders during 20X7 |
190,000 |
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Amounts credited to vouchers payable during 20X7 |
181,000 |
1. The amount of 20X7 general fund operating transfers-out is ___________ .
2. The 20X7 general fund liabilities from entitlements for compensated absences are ___________ .
3. The 20X7 reserved amount of the general fund balance is ___________ .
4. The 20X7 capital projects fund balance is ___________ .
5. The 20X7 fund balance on the special revenue fund for tourist promotion is ___________ .
6. The amount of 20X7 debt service fund expenditures is ___________ .
7. The amount to be included in the general fixed asset account group for the cost of assets acquired in 20X7 is ___________ .
8. The amount by which 20X7 transactions and events decreased the general long-term debt account group is ___________ .
9. The amount of 20X7 supplies expenditures using the purchases method is ___________ .
10. The total amount of 20X7 supplies encumbrances is _______________ .