I need the answer as soon as possible Based on the following transactions prepare the correct journal entry in proper form. On the nextpage, prepare a reconciliation worksheet. Don't forget the last step (make sure all the figuresbalance).A. The budget was formally adopted. Estimated revenues are $10,000 and appropriations areestimated to be $5,000B. Salaries of $1,100 are paid in cash.C. Purchase orders were issued in the amount of S600.D. One-third of the purchase orders from "C" were received. The actual amount due was S190. Theremaining purchase orders will be received at a later date.E. The remaining purchase orders from "C" were received. The actual amount due is $450.prepare Appropriations - Expenditures - Encumbrances Ledger

Budgetary accounting starts with an approved budgeted amount. Appropriations from the budget call…

Based on the following transactions prepare the correct journal entry in proper form. On the next page, prepare a reconciliation worksheet. Don't forget the last step (make sure all the figures balance). A. The budget was formally adopted. Estimated revenues are $10,000 and appropriations are estimated to be S5,000 B. Salaries of $1,100 are paid in cash. C. Purchase orders were issued in the amount of S600. D. One-third of the purchase orders from "C" were received. The actual amount due was $190. The remaining purchase orders will be received at a later date. E. The remaining purchase orders from "C" were received. The actual amount due is $450. prepare Appropriations - Expenditures - Encumbrances Ledger

Based on the following transactions prepare the correct journal entry in proper form. On the next page, prepare a reconciliation worksheet. Don't forget the last step (make sure all the figures balance). A. The budget was formally adopted. Estimated revenues are $10,000 and appropriations are estimated to be S5,000 B. Salaries of $1,100 are paid in cash. C. Purchase orders were issued in the amount of S600. D. One-third of the purchase orders from "C" were received. The actual amount due was $190. The remaining purchase orders will be received at a later date. E. The remaining purchase orders from "C" were received. The actual amount due is $450. prepare Appropriations - Expenditures - Encumbrances Ledger

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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