Question

15) Mifflin Co. receives a $100 state grant to be used this year for Public Safety salaries.

18)The following salaries are recognized during the year:

-a $250 for Public Safety Salaries ($90 meets eligibility for the state grant money (#15).

-b $150 for Health Salaries

-c $65 other Salaries

-d $35 Approved Vacation Pay

28)The county staff made an end-of-year adjustment to restrict grant money that was not spent (#15 and #18A)

Please make journal entries for the questions above.

Answer 1

   Debit($) Credit($)

15)Bank A/c..........Dr. 100

To Profit and Loss A/c 100

(Being Grant received to meet expenses related to public safety salaries)

18)Public Safety Salaries A/c...Dr.250

Heath Salaries A/c....Dr. 150

Other Salaries A/c....Dr. 65

Approved Vacation Pay A/c...Dr.35

To Bank A/c 500

(Being Salaries recognized during the year)

28)Profit and Loss A/c....Dr.10

Bank A/c 10

(Being grant money that was not spent restricted)

Note: Whenever grant money is received in the nature ofv expenses are always credited to the Profit and loss account and at the end of the year if it is not spent then the debit is given to that account which was credited at the time of receipt of the grant.