Explain why diversity and inclusion are important to employee relations and the provision of safe, high-quality health care
January 5, 2018
Deliverable 1 – Memo To Executive Staff
January 5, 2018

Record the following transaction in General Ledger accounts of the General Fund of Fergieville. 1. Incurred salaries of $300,000, $280,000 of which were paid.

Record the following transaction in General Ledger accounts of the General Fund of Fergieville.
1. Incurred salaries of $300,000, $280,000 of which were paid.
2. A long-term note ($400,000 face value) matured. The interest of $40,000 was paid but the principal was not.
3. Purchased computers with a cost of $45,000; $22,000 was paid, the balance is due and is expected to be paid at the end of the first quarter of the next fiscal year.
4. Purchased materials for cash, $19,000. Assume purchases method of accounting for inventory.
5. Received bill from the water and sewer department for services, $7,500; $4,000 was paid.
6. Ordered, but have not yet received, materials costing $70,000.
7. Paid required annual contribution to pension paid $250,000.
8. Determined that the Capital Projects Fund should be reimbursed $3,000 for wages that should have been charged to General Fund departments but were paid from the Capital Project Fund.
9. Repaid a six-month not (face value, $50,000) and interest on the note (2,500).
10. Paid $75,000 to the Golf Course Enterprise Fund to cover its operating deficit for the year.

 

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