The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta
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:
Required
Assuming that there are no other General Fund revenue or expenditure transactions, answer the following questions.
a. What were the original approved budget amounts for Estimated Revenues and for Appropriations?
b. (1) Was the budget adjusted during the year?
(2) If so, which accounts if any were adjusted and by how much?
(3) In total, has Budgetary Fund Balance increased, decreased, or remained the same during the first fiscal quarter?
c. (1) What are the current balances of the Estimated Revenues and Appropriations control accounts?
(2) What are the current balances of the Revenues, Encumbrances, and Expenditures control accounts?
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The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta
The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the...
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:
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) 200,900 751,000 550, 100 Revenues Ledger Est. Revenues Account Ref Account Title Dr(Cr) 3/4020 Taxes-Real Property...
The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the...
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:
Required: a. What are the current balances of
the Revenues, Encumbrances, and Expenditures control accounts?
b. What are the current balances of the
Estimated Revenues and Appropriations control accounts?
Current Balance
(a)
Revenues
?
Encumbrances
?
Expenditures
?
(b)
Estimated Revenues
?
Appropriations
?
Revenues Cr(Dr) Balance Dr(Cr) 759,000 550,900...
I need help on this specific accounting question relating to budgets(nonprofit). Can you please show your...
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.
The...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $156 (in thousands) and that the budget was not amended during the year. City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Estimated Revenue Taxes 6,048 Fines & Forfeits 303 Intergovernmental Revenue 504 Charges for Services 370 Revenues Taxes 6,056 Fines & Forfeits 308 Intergovernmental Revenue...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for...
Greenville has provided the following information from its
General Fund Revenues and Appropriations/Expenditure/Encumbrances
subsidiary ledgers for the fiscal year ended. Assume the beginning
fund balances are $167 (in thousands) and that the budget was not
amended during the year.
Required
Prepare a General Fund statement of revenues, expenditures, and
changes in fund balance.
Prepare a General Fund schedule of revenues, expenditures, and
changes in fund balance—budget and actual (assume the budget is
prepared on a GAAP basis).
514 308 367...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $143 (in thousands) and that the budget was not amended during the year City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Estimated Revenue Taxes Fines & Forfeits Intergovernmental Revenue Charges for Services 6,048 303 489 370 Revenues Taxes Fines & Forfeits Intergovernmental Revenue Charges for...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for...
Greenville has provided the following information from its
General Fund Revenues and Appropriations/Expenditure/Encumbrances
subsidiary ledgers for the fiscal year ended. Assume the beginning
fund balances are $167 (in thousands) and that the budget was not
amended during the year.
Required
Prepare a General Fund statement of revenues, expenditures, and
changes in fund balance.
Prepare a General Fund schedule of revenues, expenditures, and
changes in fund balance—budget and actual (assume the budget is
prepared on a GAAP basis).
PLEASE CORRECT THE...
A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, and Encumbrances. This indicates...
A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, and Encumbrances. This indicates that the city a) Formally integrates its budget into its chart of accounts. b) Uses a cash plus encumbrances basis of accounting. c) Maintains its accounts on an accrual basis. d) Erroneously reports encumbrances as expenditures.
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits Appropriations $ 5,824,000 Estimated Other Financing Uses 2,576,000 Estimated Revenues $ 7,597,000 Encumbrances 0 Expenditures 5,792,000 Other Financing Uses 2,570,000 Revenues 7,580,000 Budgetary Fund Balance 803,000 Fund Balance—Nonspendable—Inventory of Supplies 124,400 Fund Balance—Unassigned 1,986,000 The City of Columbus uses the purchases method of accounting for its inventory of...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits Appropriations $ 7,124,000 Estimated Other Financing Uses 3,226,000 Estimated Revenues $ 8,897,000 Encumbrances 0 Expenditures 7,092,000 Other Financing Uses 3,220,000 Revenues 8,880,000 Budgetary Fund Balance 1,453,000 Fund Balance—Nonspendable—Inventory of Supplies 175,100 Fund Balance—Unassigned 2,009,000 The City of Columbus uses the purchases method of accounting for its inventory of...
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:
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) 200,900 751,000 550, 100 Revenues Ledger Est. Revenues Account Ref Account Title Dr(Cr) 3/4020 Taxes-Real Property...
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:
Required: a. What are the current balances of
the Revenues, Encumbrances, and Expenditures control accounts?
b. What are the current balances of the
Estimated Revenues and Appropriations control accounts?
Current Balance
(a)
Revenues
?
Encumbrances
?
Expenditures
?
(b)
Estimated Revenues
?
Appropriations
?
Revenues Cr(Dr) Balance Dr(Cr) 759,000 550,900...
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.
The...
Greenville has provided the following information from its
General Fund Revenues and Appropriations/Expenditure/Encumbrances
subsidiary ledgers for the fiscal year ended. Assume the beginning
fund balances are $167 (in thousands) and that the budget was not
amended during the year.
Required
Prepare a General Fund statement of revenues, expenditures, and
changes in fund balance.
Prepare a General Fund schedule of revenues, expenditures, and
changes in fund balance—budget and actual (assume the budget is
prepared on a GAAP basis).
514 308 367...
Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $143 (in thousands) and that the budget was not amended during the year City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Estimated Revenue Taxes Fines & Forfeits Intergovernmental Revenue Charges for Services 6,048 303 489 370 Revenues Taxes Fines & Forfeits Intergovernmental Revenue Charges for...
Greenville has provided the following information from its
General Fund Revenues and Appropriations/Expenditure/Encumbrances
subsidiary ledgers for the fiscal year ended. Assume the beginning
fund balances are $167 (in thousands) and that the budget was not
amended during the year.
Required
Prepare a General Fund statement of revenues, expenditures, and
changes in fund balance.
Prepare a General Fund schedule of revenues, expenditures, and
changes in fund balance—budget and actual (assume the budget is
prepared on a GAAP basis).
PLEASE CORRECT THE...
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