Answer | |||
Journal entry | |||
Account Titles and Explanations | Debit | Credit | |
a) | Inventory of Supplies | $ 12,000 | |
To, Non-spendable fund balance - Inventory of Supplies | $ 12,000 | ||
( To record the increase in inventory of supplies) | |||
b) | Appropriations | $ 62,24,000 | |
Estimated other financing users | $ 27,76,000 | ||
To, Estimated revenues | $ 79,97,000 | ||
To, Budgeted fund balance | $ 10,03,000 | ||
(To record the Budgeted fund balance) | |||
Revenue | $79,80,000.00 | ||
Fund balance($61,92,000+$27,70,000)-$79,80,000 | $ 9,82,000.00 | ||
To, Expenditure | $61,92,000.00 | ||
To, Other financing user | $27,70,000.00 | ||
(To record the budgetory accounts) |
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
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