City Of Smithville Short Version Solutions Manual
Required Open the City of Smithville software by clicking on the Cities of Smithville and Bingham program. If creating a new project, click Create New Project, when the Create New Project window appears choose City of Smithville from the Choose a City drop down menu. In addition, in the Enter your name box type your name so that it will appear on all printable reports and then click Create. This will create the project and provide all of the funds and accounts that you will need to complete the Short Version City of Smithville cumulative problem. To protect yourself from possible hard drive failure or corruption of your project data file, we recommend that you save your file to not only your hard drive but also another location (e.g., flash drive or the cloud), creating a backup file for your project at the end of each session. To open an existing project, click on Open Existing Project in the opening window. If it is not already displayed, select General Fund in the Current Accounting Entity window and the Accounts tab.
Clicking on the Accounts tab allows you to see the chart of accounts that will be used for the General Fund. A different chart of accounts is provided for each of the accounting entities.
Next, select the Journal tab and click the drop down menu for Account (# - Description). You will see the same general ledger accounts that were listed when you clicked on the Accounts tab. (Note: For purposes of this exercise, date suffixes are omitted from the Expenditures and Encumbrances accounts as expenditures occur only from a single year’s appropriations.) You will not use all of the accounts listed for the short version project. In addition, you will notice certain entities (the Solid Waste Disposal Fund and Tax Agency Fund) that are used in the full version of the City of Smithville project but not in the short version. You should ignore these entities.
City Of Smithville Solution
The trial balance of the General Fund of the City of Smithville as of December 31, 2016, is shown in the following trial balance. Select the Journal tab and create a journal entry to enter the balance sheet accounts and amounts shown in the trial balance (review software operating procedures in Chapter 1 of these instructions if © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use.
Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 15 necessary). Be sure to enter 2016 from the drop-down Year menu and enter the paragraph number from these instructions in the Transaction Description box of the Journal. For this entry you should enter 2-b. Select the appropriate accounts individually and insert the appropriate amounts.
(Note: Enter all dollar amounts without dollar signs, without commas, and without decimal points. All amounts in this project should be rounded to the nearest whole dollar. For all entries, it is vitally important that the correct year be selected.) You enter each account and amount one line at a time by clicking Add Entry. The year and transaction description need only be entered for the first line of the journal entry; it will remain in the boxes for the rest of the accounts. When you have completed entering all account data and amounts, verify all of your entries, including date and paragraph numbers.
When you are sure that your entries are correct, click Post Entries to post the items to the general ledger of the General Fund. Unpost capability. As discussed in Chapter 1 of these instructions, the City of Smithville software program permits students to “unpost” a particular batch of posted transactions.
Unposted entries then can be edited and re-posted. In addition, any omitted entries can be inserted above a selected journal line in any unposted batch of entries.
Prior to unposting a batch all batches must be posted. Select Reports, Trial Balances, Post-Closing Trial Balance and print or save as a.pdf file the post-closing trial balance for year 2016. Retain the printed trial balance in your personal cumulative folder until the due date assigned by your instructor for the project, or submit a saved version of the trial balance electronically if directed to do so by your instructor.
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