Chapter 8 Journal Entries Flashcards
Record Budget
DR: Estimated Revenue Control
DR: Estimated Other Financing Sources
DR: Budgetary Control (negative/deficit)
CR: Appropriations Control
CR: Estimated Other Financing Uses
CR: Budgetary Control (positive/surplus)
Reverse Budget
DR: Appropriations
DR: Estimated Other Financing Uses
DR: Budgetary Control
CR: Estimated Revenue Control
CR: Estimated Other Financing Sources
CR: Budgetary Control
Reverse for exact same amount as what was recorded
Accrual of Real Property Taxes Levied and Provide for Estimated Amount of Uncollectible Accounts
DR: Real Property Taxes Receivable - Current
CR: Revenue - Property Taxes
CR: Allowance for Uncollectible Taxes - Current
Collection of Property Taxes
DR: Cash
CR: Real Property Taxes Receivable - Current
Reclassify Taxes Receivable to Delinquent
DR: Property Taxes Receivable - Delinquent
CR: Property Taxes Receivable - Current
Reclassify Allowance for Uncollectible Taxes to Delinquent and Adjust Revenues to Accrue Available Amounts
DR: Revenue - Property Taxes
DR: Allowance for Uncollectible Taxes - Current
CR: Allowance for Uncollectible Taxes - Delinquent
GRaSPP Purchase of Capital Item
DR: Expenditure - Capital Outlay
CR: Vouchers Payable/Cash
GRaSPP Principal Payment on Non-Current Debt
DR: Expenditure - Debt Service
CR: Cash
GRaSPP Purchase Item: Purchase Method
DR: Expenditure
CR: Vouchers Payable
GRaSPP Use of Item: Purchase Method
NO ENTRY
GRaSPP On Hand at Year End: Purchase Method
DR: Supplies Inventory
CR: Nonspendable Fund Balance - Inventory
GRaSPP Purchase Item: Consumption Method
DR: Supplies Inventory
CR: Vouchers Payable
GRaSPP Use of Item: Consumption Method
DR: Expenditure
CR: Supplies Inventory
GRaSPP On Hand at Year End: Consumption Method
NO ENTRY
GRaSPP Routine Transfer Between Funds
DR: Other Financing Uses
CR: Cash
GRaSPP Receipt of Proceeds from Bond Issue
DR: Cash
CR: Other Financing Uses - Bonds Issued
GRaSPP Set Up Encumbrance
DR: Encumbrances
CR: Budgetary Control
GRaSPP Reverse Encumbrance and Record Expenditures
DR: Budgetary Control
CR: Encumbrances
DR: Expenditures
CR: Vouchers Payable/Cash
GRaSPP Close Encumbrance at Year End and Reserve the Fund Balance for Outstanding Purchase Orders
DR: Budgetary Control
CR: Encumbrance
DR: Unassigned Fund Balance
CR: Fund Balance, Committed
GRaSPP Receipt of Item that Encumbrance was Created for Last Year
DR: Expenditure - prior year
CR: Vouchers Payable
Fair Value Hedge - Interest Rate Swap
DR: Deferred - Interest Rate Swap
CR: Deferred Inflows of Resources
Cash Flow Hedge - Forward Contract
DR: Deferred Outflows of Resources
CR: Forward Contract
GRaSPP - Transfer from one GRaSPP Fund to Another
DR: Cash
CR: Interfund Transfers from the General Fund
GRaSPP - Investment Income
DR: Cash
CR: Revenue - Investment Income
GRaSPP Unrestricted Gov’t Grant on Capital Projects Fund
DR: Cash
CR: Revenue
GRaSPP Restricted Gov’t Grant on Capital Projects Fund
DR: Cash
CR: Revenue Collected in Advance
GRaSPP Recognize Revenue Restricted (when spent) by a Cost Reimbursement Contract on Capital Projects Fund
DR: Expenditure CR: Vouchers Payable/Cash DR: Revenue Collected in Advance CR: Revenue **Spend it to Earn it**
Short Term Financing to be Repaid With Taxes or Revenue
DR: Cash
CR: Tax or Revenue Anticipation Note Payable
SE Operating Revenues
Internal Service Funds
DR: Cash
CR: Billings to Other Departments
SE Contributions
Enterprise Fund
DR: Capital Assets
CR: Capital Contributions
PAPI Additions
Pension Trust
DR: Cash
CR: Additions - Employer Contributions
SEPAPI Expenses
DR: Expense (Not Expenditure)
CR: Cash
PAPI Collections and Retaining of Fee
Agency Fund
DR: Cash
CR: Due to Other Units
CR: Due to County General Fund [fee]
