In: Accounting
In the books of Nizwa Municipality
for the Year ended 20XX
Journal Entries
Sr. No. | Description | Debit (OMR) | Credit (OMR) |
1 |
Operating Expenditure A/c Dr. To Cash/Bank A/c To Balance outstanding A/c (Expenses incured for general operating expenses) |
240 |
170 70 |
General Fund A/c Dr. To Operating Expenditure A/c (Expenditure transferred to General Fund) |
240 |
240 |
|
2 |
Cash/Bank A/c Dr. Tax Receivable A/c Dr. To Revenue from tax A/c ( Tax collected of OMR 300) |
250 50 |
300 |
Revenue from Tax A/c Dr. To General Fund A/c (Revenue transferred to General Fund) |
300 |
300 |
|
3 |
Cash/Bank A/c Dr. To Long Term Bond A/c (Issued Long Term Bonds for sports equipments) |
500 |
500 |
Revenue from Long Term Bonds A/c Dr. To Capital Project Fund A/c (Proceeds Transferred to Capital Project Fund) |
500 |
500 |
|
4 |
Sports Equipment A/c Dr. To Cash A/c (Purchased Sports equipments) |
400 |
400 |
Capital Project Fund A/c Dr. To Expenditure of Sports Equipments A/c (Expenditure recognised for sports equipments) |
400 |
400 |
|
5 |
General Fund A/c Dr. To Debt Service Fund A/c (Transferred from General fund for payment of long term debts) |
40 |
40 |
6 |
Repair and Maintenance A/c Dr. To Long Term Note A/c (Acquired furniture from Internal service fund) |
10 |
10 |
Internal Service fund A/c Dr. To Repair and maintenance (Recognised the expenditure in Internal service fund) |
10 |
10 |
|
7 |
Cash A/c Dr. To Revenue from Other Departments A/c (Received revenue of OMR 15) |
15 |
15 |
Revenue from Other Departments A/c Dr. To Internal Service Fund A/c |
15 |
15 |
|
Operating expenses A/c Dr. To Cash A/c (Expenses incurred for providing services to other departments) |
12 |
12 |
|
Internal service fund A/c Dr. To Operating expenses A/c |
12 |
12 |
|
Depriciation A/c Dr. To Current Assets A/c ( Provided Depreciation ) |
2 |
2 |
|
Internal service fund A/c Dr. To Depreciation A/c |
2 |
2 |
Statement of Revenues, Expenditures, and Changes in Governmental Fund Balances