The Bellflower City school district formally adopted a budget wi revenues of $800 and approved expenditures of $780. Which of is the appropriate entry to record the budget? O Debit Estimated revenues $800; Credit Appropriations $780; Credit F $20. Debit Appropriations $780; Debit Fund balance $20; Credit Estimated $800. Debit Encumbrances $780; Debit Fund balance $20; Credit Estimated $800. O Memorandum entry only.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Step by step
Solved in 3 steps
