ACCT 567 Tutorials / acct567dotcom

ACCT 567 Tutorials / acct567dotcom

ACCT 567 Week 1 Exercises (Keller)


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From the textbook, complete the following problems.
Chapter 1: Exercise 1–3 Chapter 2: Exercises 2–3 and 2–5

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ACCT 567 Week 3 Problems 5-3 and 6-5 (Keller)


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Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities general journal for each of the following transactions entered into by the City of Fordache.
1. The city received a donation of land that is to be used by Parks and Recreation for a park. At the time of the donation, the land had a fair value of $5,200,000 and was recorded on the donor’s books at a historical cost of $4,500,000.
2. The Public Works Department sold machinery with a historical cost of $35,100 and accumulated depreciation of $28,700 for $6,400. The machinery had originally been purchased with special revenue funds.

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ACCT 567 Week 4 Problems 7-3 and 7-8 (Keller)

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During the fiscal year ended September 30, 2011, the following transactions (summarized) occurred:
1. Employees were paid $290,000 wages in cash; additional wages of $43,500 were withheld for federal income and social security taxes. The employer’s share of social security taxes amounted to $23,375.
2. Cash remitted to the federal government during the year for withholding taxes and social security taxes amounted to $65,500.
3. Utility bills received from the Town of Fredericksburg’s Utility Fund during the year amounted to $23,500.
4. Office expenses...

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