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Europa Practice Set – RoyalCustomEssays

Europa Practice Set

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Europa

 

Each of you have received a different transaction list for the Province of Europa.  In addition, a workbook for this practice set has been posted on Blackboard.

 

Please read the General Instruction on the next page!!!

 

Transactions

 

  1. Do nothing
  2. Record and Post the Bureau fixed assets. Record and Post the Bureau long-term liabilities.
  3. Record and Post the Bureau transfer in only.
  4. Record and post the budget for the Capital Projects Fund. Remember to record in the grey area at the lower part of your journal entries
  5. Do nothing
  6. Do nothing
  7. Do nothing
  8. Do nothing
  9. Record and Post
  10. Record and Post
  11. Record and Post the transaction for the Capital Projects Fund
  12. Record and post in the Capital Projects Fund and the Debt Service Fund
  13. Record and Post
  14. Record and Post
  15. Record and Post
  16. Record and Post
  17. Record and Post
  18. Do nothing
  19. Do nothing
  20. Record and post Bureau portion.
  21. Record and Post the Bureau portion of this transaction.
  22. Record and Post the transfer in in the Debt Service Fund.
  23. Record and Post
  24. Record and post the Bureau portion.
  25. Record and Post
  26. Record and Post Bureau portion
  27. Record and Post
  28. Do nothing
  29. Record and Post
  30. Information needed to prepare financial statements.
  31. Prepare closing entries

 

Requirements:

  1. Prepare all Bureau transactions
  2. Prepare Bureau Financial Statements
  3. Prepare all Debt Service Fund Transactions
  4. Prepare all Capital Projects Transactions
  5. Prepare all Financial Statements for the Governmental Funds
  6. Prepare the Budget Comparison

 

General Instructions

 

All entries to ledger accounts must cell reference your journal entries.  Include references on your ledgers for each entry – bb for beginning balance, 5 for transaction 5, etc.

 

Do not change any formatting, do not add any lines.

 

Record Budgetary Transactions in the grey area at the bottom of the journal area.

 

Please use the account names given in the ledger accounts.

 

At the bottom of each t-account, and in the correct side (debit side for cash, credit side for revenues, etc.) create a formula to calculate the balance for each account.

 

Check Figures:

Total of Debits: General Fund                     11,260,020

Total of Debits: Debt Service Fund           361,250

Total of Debits: Capital Projects Fund      4,515,000

Total of Debits: Account Groups                                7,430,250

Total of Debits: Bureau                                  5,798,417

 

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