Homework Answers
Correct Answer : $ 950,000
Reason : As per the Accrual concepts, expenditures should be recorded whether paid or not. In this case goods of $950,000 are recived but payment for $925,000. Hence whole $950,000 should be considered as expenditure.
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comparison schedule for the General Fund but excludes expenditures
chargeable to a prior year’s appropriation.
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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:
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