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A city orders a new computer for its General Fund at an anticipated cost of $88,000. Its actual cost when received is $89,400. Payment is subsequently made. Give all required journal entries f
A city orders a new computer for its General Fund at an anticipated cost of $88,000. Its actual cost when received is $89,400. Payment
is subsequently made. Give all required journal entries for fund and government-wide financial statements. What information do the
government-wide financial statements present? What information do the fund financial statements present?
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* city ****** a new ******** *** *** ******* Fund at ** *********** **** ** $88000 *** ****** **** **** ******** ** $89400 ******* ** subsequently **** **** all ******** ******* ******* *** **** and *************** financial ********** **** *********** ** *** *************** financial statements ******** **** *********** do the fund ********* ********** ********************************** ********* ********** Government ********** ******** 89400 ******** *** ********* ******* ******* ******** *** ********* ******* ***** **** 89400 The ******* ****** **** increased ** *** **** ** ******** *** cash ********* by the same ****** ********** FINANCIAL ********** ******* FUND Encumbrances Control ***** **** Balance—Reserved for ************ ***** **** ****************** *** ************ ***** Encumbrances ******* 88000 ************ ******* 89400 ******** Payable ******* ******** ******* ***** **** ********* *** statement ** ******** ************ *** change ** fund balance ** *********** ** ****** **** be shown Cash will also ******** by **** ********
