Homework Answers
| Budgetary comparison schedule for City of Grafton | |||
| For Fiscal ended June 30, 2017 | |||
| Particulars | Estimated | Actual | Budgeted Revisions |
| Revenues: | |||
| Taxes (property) | 3213000 | 3216000 | 3213000 |
| Liscenses and permits | 790000 | 792000 | 790000 |
| Intergovermental revenues | 310000 | 299000 | 300000 |
| Misc. revenues | 200000 | 195000 | 197000 |
| 4513000 | 4502000 | 4500000 | |
| Expenditures: | |||
| General government | 920000 | 913000 | 918000 |
| (880000+33000) | |||
| Public safety | 2090000 | 2087000 | 2090000 |
| (2005000+82000) | |||
| Health and welfare | 1400000 | 1398000 | 1400000 |
| 4410000 | 4398000 | 4408000 | |
| Gross Income | 103000 | 104000 | 92000 |
| Less: Transfer to Debt service fund | 120000 | 120000 | 120000 |
| Net Income | -17000 | -16000 | -28000 |
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3-15. The City of Grafton's records reflected the following budget and...
please explain this to me. I am thoroughly confused 3-15. The City of Grafton's records reflected...
please explain this to me. I am thoroughly confused
3-15. The City of Grafton's records reflected the following budget and actual data for the General Fund for the fiscal year ended June 30, 2017. 1. Estimated revenues: Taxes (Property) $3,213,000 Licenses and permits 790,000 Intergovernmental revenues 310,000 Miscellaneous revenues 200,000 2. Revenues: Taxes (Property) $3,216,000 Licenses and permits 792,000 Intergovernmental revenues 299,000 Miscellaneous revenues 195,000 3. Appropriations: General government $ 920,000 Public safety 2,090,000 Health and welfare 1,400,000 4. Expenditures:...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscel1aneous revenues $15,600,000 850,000 390,000 120,000 70,000 $17,030,000 Total estimated revenues Appropriations: eneral government Public safety Public works Health and welfare Miscellaneous ş 8,150,000 6,060,000 1,610,000 1,010,000 130,000 Total appropriations $16,960,000 a-2. Show entries in the subsidiary ledger accounts TOWN OF WILLINGDON Revenues Ledger Year July 01 Taxes July 01 Intergovernmental Revenues...
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary...
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated revenues
2,774,000
Appropriations:
General government
471,000
Public safety
886,000...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $ 15,800,000 800,000 380,000 110,000 60,000 $17,150,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,200,000 6,080,000 1,630,000 1,030,000 140,000 $17,080,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year....
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary...
The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year’s appropriation. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: Taxes $ 1,943,000 Licenses and permits 372,000 Intergovernmental revenue 397,000 Miscellaneous revenues 62,000 Total estimated revenues 2,774,000 Appropriations: General government 471,000 Public safety 886,000...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $15,500,000 875,000 400,000 125,000 75,000 $16,975,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,125,000 6,050,000 1,600,000 1,000,000 125,000 $16,900,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
Required information [The following information applies to the questions displayed below.] The following transactions occurred during...
Required information [The following information applies to the questions displayed below.] The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: $1,943,000 372,000 397,000 62,000 Тахes Licenses and permits Intergovernmental revenue Miscellaneous revenues...
[The following information applies to the questions displayed below.] The following transactions occurred during the 2020...
[The following information applies to the questions
displayed below.]
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $14,000,000 1,250,000 460,000 200,000 150,000 $16,060,000 $ 7,750,000 5,900,000 1,450,000 850,000 50,000 $16,080, eee Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
Part A: Johnson City adopted the following General Fund budget for fiscal year 2017: Estimated...
Part A: Johnson City adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes $ 15,000,000 Intergovernmental revenues 1,000,000 Licenses and permits 400,000 Fines and forfeits 150,000 Miscellaneous revenues 100,000 Total estimated revenues $ 16,650,000 Appropriations: General government $ 8,000,000 Public safety 6,000,000 Public works 1,550,000 Health and welfare 950,000 Miscellaneous 100,000 Total appropriations $ 16,600,000 Required Prepare the general journal entries to record the adopted budget at the beginning of FY 2017
please explain this to me. I am thoroughly confused
3-15. The City of Grafton's records reflected the following budget and actual data for the General Fund for the fiscal year ended June 30, 2017. 1. Estimated revenues: Taxes (Property) $3,213,000 Licenses and permits 790,000 Intergovernmental revenues 310,000 Miscellaneous revenues 200,000 2. Revenues: Taxes (Property) $3,216,000 Licenses and permits 792,000 Intergovernmental revenues 299,000 Miscellaneous revenues 195,000 3. Appropriations: General government $ 920,000 Public safety 2,090,000 Health and welfare 1,400,000 4. Expenditures:...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscel1aneous revenues $15,600,000 850,000 390,000 120,000 70,000 $17,030,000 Total estimated revenues Appropriations: eneral government Public safety Public works Health and welfare Miscellaneous ş 8,150,000 6,060,000 1,610,000 1,010,000 130,000 Total appropriations $16,960,000 a-2. Show entries in the subsidiary ledger accounts TOWN OF WILLINGDON Revenues Ledger Year July 01 Taxes July 01 Intergovernmental Revenues...
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated revenues
2,774,000
Appropriations:
General government
471,000
Public safety
886,000...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $ 15,800,000 800,000 380,000 110,000 60,000 $17,150,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,200,000 6,080,000 1,630,000 1,030,000 140,000 $17,080,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year....
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: $15,500,000 875,000 400,000 125,000 75,000 $16,975,000 Estimated revenues : Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $ 8,125,000 6,050,000 1,600,000 1,000,000 125,000 $16,900,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
Required information [The following information applies to the questions displayed below.] The following transactions occurred during the 2020 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2020 was as follows: Estimated Revenues: $1,943,000 372,000 397,000 62,000 Тахes Licenses and permits Intergovernmental revenue Miscellaneous revenues...
[The following information applies to the questions
displayed below.]
The following transactions occurred during the 2020 fiscal year
for the City of Evergreen. For budgetary purposes, the city reports
encumbrances in the Expenditures section of its budgetary
comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
The budget prepared for the fiscal year 2020 was as follows:
Estimated Revenues:
Taxes
$
1,943,000
Licenses and permits
372,000
Intergovernmental revenue
397,000
Miscellaneous revenues
62,000
Total estimated...
The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes Intergovernmental revenues Licenses and permits Fines and forfeits Miscellaneous revenues Total estimated revenues Appropriations: General government Public safety Public works Health and welfare Miscellaneous Total appropriations $14,000,000 1,250,000 460,000 200,000 150,000 $16,060,000 $ 7,750,000 5,900,000 1,450,000 850,000 50,000 $16,080, eee Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If...
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