8672 ENTRIES FOR PROPRIETARY FUNDS
(Revised 9/90)
| Accounting Event |
Proprietary Fund |
| A. Acquisitions |
|
| 1a. Purchase |
Dr. 23XX Asset Account
Cr. 3020 Claims Filed |
| 1b. Purchase with Trade-in |
Dr. 23XX Asset Account
(full cash value of new asset)
Dr. 23XX Accumulated Depreciation
(asset traded-in)
Dr. 9XXX Operating Expense Account
(if loss on trade-in)
Cr. 23XX Asset Account
(asset traded-in)
Cr. 3020 Claims Filed
(net cash or boot) |
| 2. Lease/Installment Purchase |
Dr. 23XX Asset Account
Cr. 4220 Lease-Purchase Contracts |
| 3. Transfer |
Contact Fiscal Systems and Consulting Unit |
| 4. Gift |
Contact Fiscal Systems and Consulting Unit |
| B. Use |
Dr. 9XXX Operating Expense Account
Cr. 23XX Accumulated Depreciation |
| C. Disposition |
|
| 1. Sale |
Dr. 1110 Cash
Dr. 23XX Accumulated Depreciation
Dr. 9XXX Operating Expense Account
(if loss on sale)
Cr. 23XX Asset Account
or
Cr. 8XXX Operating Revenue Account
(if gain on sale) |
| 2. Trade-in |
See 1b. Purchase with Trade-In |
| 3. Transfer |
Dr. 23XX Accumulated Depreciation
Dr. 9XXX Operating Expense Account
Cr. 23XX Asset Account |
| 4. Lost, Stolen, or Destroyed |
Dr. 23XX Accumulated Depreciation
Dr. 9XXX Operating Expense Account
Cr. 23XX Asset Account |
