I need the solutions to the City of Smithville Project short virson Computerized Cumulative Problem 17e? Book is Accounting for Governmental & Nonprofit Entities. Edition 17
The following are the instrouctions:
Chapter 1: INTRODUCING THE SHORT VERSION OF THE CITY OF SMITHVILLE CUMULATIVE PROBLEM: Access Smithville software for the Short Version and bring the full set of Instructions to every class (hard copy or e-copy). Read the project instructions for Chapter 1 and bring any questions to class.
Chapter 2: Opening the Books : Open the books by posting the opening TB for the General Fund & the opening TB for Governmental Activities (GA). Submit both Pre-closing Trial Balances. (D1) The program can take some practice to use proficiently. Most students become comfortable after entering a few transactions and printing a few reports. As with any software program, don’t assume it will work flawlessly and don’t wait until the last minute to complete assignments
Chapter 3: Recording the Annual Budget : Record the General Fund budget. Submit the two GF subsidiary ledgers (Estimated Revenues and Appropriations) and the Pre-closing TB for the General Fund. (D1 & D6) A GA TB is not required
Chapter 4 Recording Operating Transactions Affecting the General Fund and Governmental Activities at the Government-wide Level: Close the books for the General Fund. Do not close the GA Journal. Prepare the General Fund financial statements listed in the instructions. (D1-5) Beginning fund balances is in Chap. 2. Do not prepare the budget reconciliation. Do not prepare the Government-wide (GW) statements.
Chapter 5 Recording Capital Asset Transactions: Close the books for the Capital Projects Fund only. Do not close the GA Journal. Prepare the Fund level financial statements listed in the software instructions. (D1-5) Do not prepare the GW statements.
Chapter 6 Transactions Affecting General Long-term Liabilities and Debt Service: Close the books for the Debt Service Fund only. Do not close the GA Journal. Prepare the Fund level statements listed in the software instructions. (D 1-5) Do not prepare the Debt Margin Calculation. Do not prepare the GW statements.
Chapter 9 Adjusting and Closing Entries for Governmental Activities, Government-wide Level; Preparation of Government-wide and Major Fund Financial Statements:
a. Prepare the two Combining Fund level statements for governmental funds. (D4-5) Use the statements you have already prepared for Chapters 4, 5 and 6 and combine the amounts. No adjustments are required.
b. Adjust and close the Government Activities Journal and prepare the two GW statements. (D1-5) Chapters 7 & 8 are not assigned, so Business-type Activities (BTA) amounts in the GW statements are not required. Beginning net position accounts will be needed for the Statement of Activities and are in Smithville Chapter 2.
c. Prepare the two reconciliations. (D6) It is easier if each reconciling item is listed separately, instead of combining items as in the textbook examples. Do not write all the notes in the examples, but clearly label each reconciling item.
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