During fiscal year 2017,the Town of Tonawanda issued purchase orders to various vendors in the amounts shown for the following functions of the town:
What is the fund balance as of June 30,2017,after all closing entries have been made? Show your work.
a.Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2017. (Subsidiary detail may be omitted.)
b.Prepare summary journal entries in the General Fund general journal to record the receipt of and payment for goods during fiscal year 2017.(Subsidiary detail may be omitted.)

Question

During fiscal year 2017,the Town of Tonawanda issued purchase orders to various vendors in the amounts shown for the following functions of the town:
  What is the fund balance as of June 30,2017,after all closing entries have been made? Show your work. 
a.Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2017. (Subsidiary detail may be omitted.)
b.Prepare summary journal entries in the General Fund general journal to record the receipt of and payment for goods during fiscal year 2017.(Subsidiary detail may be omitted.)

Quizplus · Accepted Answer

The Answer of During fiscal year 2017,the Town of Tonawanda issued purchase orders to various vendors in the amounts shown for the following functions of the town:
  What is the fund balance as of June 30,2017,after all closing entries have been made? Show your work. 
a.Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2017. (Subsidiary detail may be omitted.)
b.Prepare summary journal entries in the General Fund general journal to record the receipt of and payment for goods during fiscal year 2017.(Subsidiary detail may be omitted.)

During Fiscal Year 2017,the Town of Tonawanda Issued Purchase Orders