The general fund has the following budget: $600,000 in estimated revenues, $510,000 in appropriations, $50,000 in...
- The general fund has the following budget:
- $600,000 in estimated revenues,
- $510,000 in appropriations,
- $50,000 in estimated other financing sources, and
- $75,000 in estimated other financing uses.
If the general fund’s balance in fund balance–unassigned was $60,000 at the beginning of the year, before the budget entry, what is its balance after the budget entry?
Please show work.
Homework Answers
| General fund | ||
| a | Opening Balance | $ 60,000.00 |
| b | Estimated revenues | $ 600,000.00 |
| c | Estimated appropriations | $ 510,000.00 |
| d | Other financing sources | $ 50,000.00 |
| e | Other financing uses | $ 75,000.00 |
| Balance after budget entry (a+b-c+d-e) | $ 125,000.00 | |
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