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prepare jounal entry for FB and GW For the following prepare all...

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Accounting

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prepare jounal entry for FB and GW
For the following prepare all necessary journal entries for the current year (except closing) for both the fund-based (designate the fund) and government-wide (designate the activity) financial statements. Use the letter of each transaction and YE for related year-end transactions to date the journal entries. The Hamlet of Oakridge, which is run by a Council, began 2017 with a General Fund, which had two activities (education and conservation), and an Enterprise Fund, which provides water to the citizens. Oakridge has one school which cost $1,050,000 and has a 20-year life with no salvage value. The water plant cost $618,000 and has a 30-year life with no salvage value. Assume the Oakridge's fiscal year follows the calendar year. The Council: Received a $95,000 cash grant for the Oakridge school that must be spent for a school breakfast program for under-privileged children. Appropriate spending of these funds is viewed as an eligibility requirement for this grant (reimbursement grant). During the current year, $35,150 of the amount received was properly spent

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