Question

The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta for the first quarter of the fiscal year appeared as follows: Revenues Cr(Dr) Balance Dr(Cr) 751,000 550, 100 200,900 Revenues Ledger Est. Revenues Account Ref. Account Title Dr(Cr) 3/4020 Taxes-Real Property 101 Budget Authorization Budget Author 751,000 102 Received in Cash 3/4050 Licenses and Permits 101 Budget Authorization 101,000 Received in Cash 3/4070 Intergovernmental Revenue 101 Budget Authorization 51,000 102 Received in Cash 103 12,600 101,000 90,900 102 Re 10,100 15,100 15,100 51,000 35,900 48,500 31,90€ Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Encumbrances Encumbrances Expenditures Increase Decrease Balance Expenditures Balance Appropriation (Cr) Dr(Cr) Dr(Cr). Dr(Cr) Cr(Dr) Account 5/6/7020 Ref Balance Cr(Dr) 636,000 6,450 101 102 102 102 Account / Description General Government Budget Authorization Purchase Order Issued Payroll Goods Received Public Safety Budget Authorization Payroll 6,450 1,700 636,000 629,550 478,650 478,700 4,750 150,900 4,700 150,900 155,600 5/6/7030 126,000 101 102 103 30,100 30,100 126,000 95,900 146, 100 50,200 5/6/7050 86,000 101 102 102 102 1,250 1,250 Culture and Recreation Budget Authorization Purchase Order Issued Goods Received Payroll Miscellaneous Budget Authorization 1,250 1,050 15,050 86,000 84,750 84,950 69,900 1,050 16,100 5/6/7070 101 15,100 15,100

I need help on this specific accounting question relating to budgets(nonprofit). Can you please show your calculations for the problem involved? I need to learn how to do this but I am stuck. Need to know if I am doing this correctly. THIS IS A SUFFICIENT AMOUNT OF INFORMATION TO COMPLETE THE PROBLEM. Please don't tell me its not just because you dont want to answer the question, as we're paying customers trying to LEARN. Please Complete. Thank you.

Answer 1

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amounts what were the original estimated Revenues and budget ved | Rear approved budget an for Appropriations ? for inswer: Estimated Revenues total & 903000 while Appropriations total & 863100 [the sum f the amounts designated as "Budger Authorization in in the Estimated Revenues and Appropriations Columns of the respective subsidiary en crive subsidiary Ledgers). ® Reagoirement IR (1) was the budget adjusted during the year ? Answer = Yes. The budget was adjusted during the year. (2) If so which accounts if any were adjosted and by how much a Ir: Answer. Intergovernmental by $12600 and 50200 in the Revenues (entry 103) was adjusted public Safety (entry 103) was adjusted appropriations ledger. (3) In total, has Budgetary (or remained the same Fond during Balance increased , decreased the first tiscal quarter 2 Answer: Decreased. Both estimated Revenues and appropriations were increased however, the overall impact on the original budget was a $37600 decrease [$50200 increase in Appropriations Less & 12600 increase in Estimated Revenues) to Budgetary Fond Balance

Requirement o. Estimated Revenues 7 (1) what and are the current balances of the Appropriations control accounts ? Answer. wer: There is a debit balance in the three Revenues ledger accounts to tating $ 9 15600 [$751000 + $ 101000 + $51000 + & 12600) while there is a credit balance totaling $ 913300 [$ 636000 + f 126000 + $ 50200 + $86000 + $ 15100] in the four accounts in the Appropriations ledger. (2) Revents, Encombrances what and are the Expenditures current balances of control accounts ? wer: Answer: Totating the Revenues column equates to $226100 [ 200900 + $ 10 too + $ 15 100 ; The one encombranes balance is $ 1700 (8 6450 -$4750) while Expenditures to date som to $ 20 1800 [s 155600+ & 30100 + $ 16100].