Expert answer:Government accounting
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Instructions
City of Smithville
Full Version
Computerized Cumulative Problem
For use with McGraw-Hill Education
Accounting for Governmental & Nonprofit Entities
17th Edition
By Jacqueline L. Reck and Suzanne L. Lowensohn
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© 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.
Table of Contents
Chapter 1
Introducing City of Smithville
Welcome……………………………………………………….4
System Requirements ………………………………………………………. 4
Licensing ……………………………………………………………………….. 4
Running or RemovingCities of Smithville and Bingham
Running the Cities of Smithville and Bingham……………………. 5
Removing the Cities of Smithville and Bingham …………………. 5
General Operating Instructions
Opening the Cities of Smithville and Bingham……………………. 5
Creating a new project ……………………………………………………… 6
Opening an existing project ………………………………………………. 6
Saving thecurrent project………………………………………………….. 7
City of Smithville Main Window
Adding and posting journal entries ……………………………………. 8
Editing/deleting/unposting journal entries ………………………….. 8
Working with the ledgers screen ………………………………………..10
Working with the detail journal screen ……………………………….10
Printing Reports ……………………………………………………………………….11
Exporting Trial Balances ………………………………………………………..11
CompletingChapters 2 through 11 of the
City of Smithville Cumulative Problem ……………………………….12
Chapter 2 Opening the Books ………………………………………………..13
Chapter 3 Recording the Annual Budget ……………………………..17
Chapter 4 Recording Operating Transactions Affecting
the General Fund and Governmental Activities at the
Government-wide Level ………………………………………………………….19
Chapter 5 Recording Capital Asset Transactions ……………….27
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© 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.
Chapter 6Recording General Long-term Liabilitiesand
Debt ServiceTransactions ……………………………………………………….31
Chapter 7 Recording Enterprise Fund and
Business-type ActivitiesTransactions…………………………………….37
Chapter 8 Recording Fiduciary FundTransactions —
Tax Agency Fund ……………………………………………………………………..40
Chapter 9 Adjusting and Closing Entries for
Governmental Activities, Government-wide Level;
Preparation of Government-wide and Major Fund
Financial Statements ………………………………………………………………..44
Chapter 10 Analysis of Financial Condition ………………………..46
Chapter 11 Preparation of Audit Report ……………………………..46
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© 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.
CHAPTER 1
INTRODUCING THE CITY OF SMITHVILLE CUMULATIVE
PROBLEM
Welcome
Thank you for purchasing the Cities of Smithville and Bingham Governmental
Accounting Software. This software is designed to be used with the McGraw-Hill
Education textbook Accounting for Governmental & Nonprofit Entities, 17th
Edition.
System Requirements
To use the Cities of Smithville and Bingham accounting software application, you
must have the following:
Windows
• 2.33GHz or faster x86-compatible processor, or Intel Atom™ 1.6GHz or
faster processor for netbook class devices
• Microsoft® Windows Server 2008, Windows 7, or Windows 8 Classic
• 512MB of RAM (1GB recommended)
Mac OS
• Intel® Core™ Duo 1.83GHz or faster processor
• Mac OS X v10.7, and above
• 512MB of RAM (1GB recommended)
•
•
•
•
•
Adobe AIR 15 or latest version
Recommended screen resolution of 1024 x 768 minimum
Spreadsheet program (in order to easily view the exported CSV files)
Excel 2003 or later (in order to view the exported Excel files)
Adobe Reader 9 or later to read saved report files
Licensing
This manual for the full version project was written for use with the Cities of
Smithville and Bingham software. The manual and the software described in it
are copyrighted, with all rights reserved. This manual and the Cities of Smithville
and Bingham software may not be copied, except as otherwise provided in your
software license or as expressly permitted in writing by McGraw-Hill Higher
Education, Inc.
Use of the Cities of Smithville andBingham governmental accounting software
(the “Software”) and its documentation are governed by the terms set forth in
your license. Such use is at your sole risk. The software and its documentation
(including this manual) are provided “AS-IS” and without warranty of any kind.
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© 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.
[Note: Read the following instructions before beginning your first assignment in
Chapter 2. Refer back to this information as needed.]
RUNNING OR REMOVING THE CITIES OF SMITHVILLE AND
BINGHAM
Running the Cities of Smithville and Bingham
The software application can be run by clicking on the “Cities of Smithville and
Bingham” icon/program as indicated in the “Opening the Cities of Smithville and
Bingham” instructions below. Click “Install” and follow the installation prompts.
It is recommended to save this file in your Programs/Applications or Desktop.
You may exit the program by clicking the “X” button at the top right corner on a
PC or top left corner on a MAC.
Removing the Cities of Smithville and Bingham
You can remove the software applicationbyuninstalling the “Cities of Smithville
and Bingham”program.
GENERAL OPERATING INSTRUCTIONS
Opening the Cities of Smithville and Bingham
You can open the Cities of Smithville and Bingham at any time by clicking on the
“Cities of Smithville and Bingham”icon/program.
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© 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.
Creating a New Project
To access the instructions for the Smithville Full Version project click on Open
Instructions in the opening widow and select and print the full versionproject
instructions.To create a new project, click on “Create New Project.” The Create
New Project window will appear, as shown below.
Enter your first and last name, then select City of Smithville as your project and
click [Create]. The main project window will pop-up once the project is created
and you will be ready to begin entering journal entry data for your first
assignment. This step creates the accounts and funds that you will need to
complete the full version“City of Smithville”project. After you have completed
the journal entries for each assignment, you should save your project data file in a
folder that you havecreated on your computer. For your own protection against
hard-drive failure or file corruption, we recommend that you create a dated
backup file on a removable device (e.g.,flash drive) or cloud storage at the end of
each session.This will permit you to reopen your project to the previous stage of
completion should a computer problem occur during your current session.
Opening an Existing Project
After your initial data entry session, click on “Open Existing Project,”and then
select and open the data file you saved at the end of your previous session.
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© 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.
Saving the Current Project
During or at the end of each assignment, click on and .If a
filename has already been specified, the current filename should be displayed in
the file name box but may be changed if desired.
City Of Smithville Main Window
If you have opened a project file, the main project window should appear as follows:
To navigate between the Journal, Ledgers, and Accountscreens, simply click on
the [TAB] for that particular screen.
To switch between different funds and governmental activities, government-wide,
choose the desired entity from the drop-down menu.
You can verify which entity you are working on by the caption on the upper right
corner of the window. It will show the title of your project, and the current
fund/entity that is open.
The main window has the same standard window controls as most other
applications. To close down your project, simply click on the [X] box. If you
click on the [X] box you will be asked whether you want to close the program
without saving changes.Remember the folder location where you save your file
so it will be easier to retrieve it when you want to reopen the file.
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© 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.
Adding and Posting Journal Entries
You need to be in the Journal view before you can add any journal entries.Once
you are in the Journal view, you will see the journal entry panel on the lower
portion of the window.
Before ANY entry can be added to the Journal, a transaction description, account
#-description, and debit or credit amount must be specified.
Once you have filled in the necessary fields, simply click on [Add Entry] to add
the entry to the journal. If the entry being made is a closing entry, you must click
on the check mark for [Closing Entry].
If one of the fields is missing a value or contains an illegal character, the [Add
Entry] button will remain disabled.
If the account selected from the drop-down [Account (# – Account Description)]
menu is a control account, the detail journal will automatically open for entering
the transaction detail. When entering data in the detail journal, you must first
select an item from the drop-down [TransactionDescription] or type your own
description in the box before selecting the account. When you have completed
your entries the detail total for the transaction will be entered into the control
account.
Once you have entered a batch of entries into the system, you can post them to the
general ledger at any time by clicking the [Post Entries] button. In the case of
the General Fund, posting transactions also posts entries from the detail journal to
the Revenue ledger and Appropriations, Encumbrances, Expenditures ledgers.
The [Post Entries] button only posts entries for the fund/entity that is currently
open.
Editing/Deleting/Unposting Journal Entries
To edit entries that have already been entered, double click or right click on the
entry, and select edit. You will know you are in edit mode when the entry form
turns red and the blanksfill in with the data from the journal. If you wish to delete
an entry, right click on the item and select [Delete] or choose [Edit]-[Delete].
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© 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.
As in real-world systems, the software does not allow you to edit entries that have
already been posted. So, it is recommended that you verify the accuracy of entries
before clicking [Post Entries].However, for your convenience we have added the
capability to “unpost” individual batches of posted transactions.Note that
prior to unposting a batch, all batches must be posted.To unpost simply highlight
any entry within the batch you want to unpost and either right click and select
[Unpost] or select [Unpost] from the Edit menu. Make all necessary editing
changes, and thenclick [Post Entries] and your corrections will be made to the
appropriate accounts. If you need to add a missing entry to a previously posted
journal entry, then unpost as described above, highlight the line below which a
new entry is to be added, and rightclickand select “Insert Entry.”Note that the
“Insert Entry” function will work if you are inserting an entry prior to a balance
sheet account. However, it will not work when inserting an entry prior to any
account that has an associated subsidiary ledger (e.g., estimated revenues,
expenditures).
Screen shot of “right clicking” on a journal entry.
Enter the data for the new entry and click “Add Entry” to insert the new entry.A
provision also allows you to clear all of the transactions from the current fund or
entity. Under [File]-[Student Assistance] you will find the option [Wipe out
data forcurrent fund or governmental activities]. The wipe out function
should be used as a last resort since making changes by editing is quite easy.
Once you select this option, there is no going back. It will remove ALL of the
transactions for the current fund or entity.
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© 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.
Working with the Ledgers Screen
Switch to the Ledgers screen by clicking on the ledgers tab.
Switch entities at any time by changing the selection. Depending on the fund or
entity with which you are working, there may be different ledgers for you to view.
Choose the ledger you want to view from the drop-down list.
If you want to print a ledger, you should open the [Reports] menu, and select the
report to print.
Working with the Detail Journal Screen
The General Fund of the City of Smithville uses a Detail Journal to avoid
recording operating or budget detail in the general journal/ledgers.
If you choose a control account that has subsidiary detail associated with it, you
will be taken directly to the Detail Journal. If you attempt to edit a journal entry
that has associated subsidiary detail, you will automatically be prompted to also
open the Detail Journal for editing, if desired.
The Detail Journal screen for the General Fund appears as shown on the following
page.
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© 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.
The Detail Journal operates very similar to the entry screen on the General
Journal. Fill in the boxes or, in the case of the [Transaction Description] box,
select a description from the drop-down menu, and click [Add Entry]. The
balance of the entries for this transaction is automatically updated. When you exit
the Detail Journal the balance will be entered into thecontrol account amount in
the General Journal. Please note that the year and reference numbers of these
transactions are based on the originating entry (the line in the General Journal).
Printing Reports
All of the reports for the City of Smithville are available through the Reports
menu. Simply go to the menu and click on the report you want.To print, click on
the “Print” icon and print in the normal manner. If you need to create a “Save as
Printable .pdf File,” accept the default file name and save location, or change the
name and/or location if you prefer.
Exporting Trial Balances
To make it easier to prepare financial statements/schedules, spreadsheet files for
all trial balances for each entity and each year of transactions, as well as detail
subsidiary account balances (General Fund only), can be exported to either Excel
or CVS for non-Microsoft applications. To export an item, select it from the
[File], [Export] menu, accept the default file name and folder location, and save
it. You can change the file name and/or location if you prefer.
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© 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.
Completing Chapters 2 through 11 of the City of Smithville Full
Version
Foreword
This full version of a cumulative problem written for the computer presents a series of
transactions covering activities for the City of Smithville, assuming the city utilizes the
dual-track accounting approach to the GASBreporting model described in Reck and
Lowensohn, Accounting for Governmental & Nonprofit Entities, 17th edition. The
transactions presented relate to the city’s General Fund, capital projects, debt service,
enterprise, and fiduciary funds, as well as to an additional accounting entity,
governmental activities at the government-wide level. The transactions and instructions
in this series are designated Chapter 2, Chapter 3, etc., corresponding to the chapters of
Reck and Lowensohn,Accounting for Governmental & Nonprofit Entities, 17th edition.
You should begin the project with Chapter 2 of the instructions as you complete Chapter
2 of the textbook. Some problems require you to print trial balances or other documents.
Other problems require the preparation of financial statements or other documents. The
specified documents can either be turned in chapter by chapter or retained in a cumulative
folder until the end of the project, depending on your instructor’s preference and
instructions. Some instructors may prefer that you electronically submit your project data
file and either Excel or .pdf files containing your trial balances, financial statements, and
other documents, rather than submitting printed copies.
To minimize errors, you should read and follow all instructions carefully. Students find
that this computerized cumulative problem significantly enhances their learning if they
complete each City of Smithville chapter as the corresponding chapter of the textbook is
covered. Conversely, students who procrastinate often find that the project takes more
time than they expected and that it is harder to recall how to make the journal entries
covered in the earlier chapters. Thus, delaying until your project is nearly due may
increase the total time it takes you to do the project and leave you little time for anything
else that week. So, our advice is to stay current with the project.
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© 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 no …
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