Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a countys general fund has the following results f

A countys general fund has the following results for fiscal 2020: ...

50.1K

Verified Solution

Question

Accounting

  1. A countys general fund has the following results for fiscal 2020:

Budget

Actual

Revenues

$ 405,000

$ 400,000

Expenditures

380,000

375,000

Other financing uses

30,000

28,000

The general funds balance in fund balanceunassigned before the budget entry was $26,000. Assume actual transactions are either cash paid or cash received.

Prepare:

  1. The budgetary entry
  2. The actual (condensed) entries
  3. The closing entries at fiscal year-end.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Out of 100 seniors, 60 are taking math, 50 are taking biology, 30 are taking art, 16...

Advance Math
Q

The process of reproduction O replication O meiosis conjugation mitosis increases genetic variability as it...

Biology
Q

Find the work W done by a force of 3 pounds acting in the direction...

Basic Math
Q

Inequality Notation I 3 I 4 10 10 10 10 5 5 Graph Clear All...

Basic Math
Q

A binomial probability experiment is conc probability of x successes in the n independent trials...

Statistics
Q

A sinusoid reaches a maximum value of (?/2,28 )and a minimum value of (?,12)during a...

Algebra
Q

Martin Home Renovations Balance Sheet December 31, 2018 Current assets 75,000 Cash Accounts receivable 12,000...

Accounting
Q

Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July...

Accounting
Q

On January 1, 2014, Picante Corporation acquired 100 percent of the outstanding voting stock of...

Accounting
Q

Problem 3-35 Balance Sheet (LO1) The table below contains data on Fincorp Inc. The balance...

Accounting
Q

Pro forma balance sheet Peabody&Peabody has 2019 sales of $10.5 million. It wishes to analyze...

Finance
Q

Juniper Design Limited of Manchester, England, is a company specializing in providing design services to...

Accounting