Installment payments of 75000 were received from the


Please list the name of the fund(s) in which each of the following transactions or events would be recorded.

(1) Bonds of $1,000,000 from which the proceeds are to be used for the construction of a new City Hall building.

(2) Salaries of $170,000 were paid to personnel in the office of the mayor.

(3) Installment payments of $75,000 were received from the property owners that were assessed for the street improvement project.

(4) Over $65,000 of funds were received by employees by payroll deductions that are to be used for the purchase of United States Government Bonds for those employees on an individual basis.

(5) Materials of $140,000 were to be used for the general repair of the streets that were purchased by the city.

(6) Excess funds of $60,000 were transferred from the water utility to the General Fund.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Installment payments of 75000 were received from the
Reference No:- TGS02552849

Now Priced at $10 (50% Discount)

Recommended (97%)

Rated (4.9/5)