E34 (Budgetary Accounts) Indicate which of the following transactions require entries to accounts that are used only for budgetary controlpurposes, even if other accounts also are involved.1. Adopted the budget estimated revenues of $5,000,000 and appropriations of $4,900,000.2. Leved property taxes of $3.500.000. Historically, 1% has been uncollectible3. Paid salaries of $2.700,0004 Hired a new director of public works at an agreed salary of $00,000.6. Ordered materials and supples expected to cost $103,000.O Amended the appropriation for public works to inciease it by $10.000.7. Received a portion of the matenials and supplies order at an actual cost of $51,500 and the estimated cost was $52.000ES-6 (Budgetary and Other Entries-General Ledger) Prepate the general jouma entrles requiréd for the transactions in E3-4 Assuming abeginnirig total fund batance of $1,000 000, wnat would the fotal fund balarice be ater taking into conaideration the etfeces of theseIransactions?

Answer - BUDGETARY ACCOUNTS - Budgetary accounts means those accounts necessary to reflect…

E34 (Budgetary Accounts) Indicate which of the following transactions require entries to accounts that are used only for budgetary controf purposes, even if other accounts also are involved. 1. Adopted the budget estimated revenues of $5,000,000 and appropriations of $4,900,000. 2. Levied property taxes of $3.500,000. Historically, 1% has been uncollectible. 3.Pad salaries of $2.700,000 4Hired a new director of public works at an agreed salary of $60,000. 6. Otdered materials and supples expected to cost $103,000 0 Amended the appropriation for public works to inciease it by $10.000. 7.Received a portion of the matenals and supplies order at an actual cost of $51,500 and the estimated cost was $52.000

E34 (Budgetary Accounts) Indicate which of the following transactions require entries to accounts that are used only for budgetary controf purposes, even if other accounts also are involved. 1. Adopted the budget estimated revenues of $5,000,000 and appropriations of $4,900,000. 2. Levied property taxes of $3.500,000. Historically, 1% has been uncollectible. 3.Pad salaries of $2.700,000 4Hired a new director of public works at an agreed salary of $60,000. 6. Otdered materials and supples expected to cost $103,000 0 Amended the appropriation for public works to inciease it by $10.000. 7.Received a portion of the matenals and supplies order at an actual cost of $51,500 and the estimated cost was $52.000

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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