Governmental and Nonprofit Accounting (11th Edition)

11th Edition

ISBN: 9780133799569

Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott

Publisher: PEARSON

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Textbook Question

Chapter 3, Problem 1P

(Operating Budget Preparation) The finance director of the Bethandy Independent School District is making preliminary estimates of the budget outlook for the General Fund for the 20X8 fiscal year. These estimates will permit the superintendent to advise the department heads properly when budget instructions and forms are distributed. She has assembled the following information:

Chapter 3, Problem 1P, (Operating Budget Preparation) The finance director of the Bethandy Independent School District is

3. Fund balance at the end of 20X7 is expected to be $1,600,000; at least $1,500,000 must be available at the end of 20X8 for carryover to help finance 20X9 operations.

a. Prepare a draft operating budget for the Bethandy Independent School District for the 20X8 fiscal year, including 20X7 comparative data and expected change computations. Assume that 20X8 appropriations are to equal 20X8 estimated revenues.
b. What total salaries and wages amount and average percentage increase or decrease are implied in the draft operating budget prepared in part (a)? What are the maximum salary and wages amount and percentage increase that seem to be feasible in 20X8?

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Chapter 3, Problem 9E

Chapter 3, Problem 2P

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Chapter 3 Solutions

Governmental and Nonprofit Accounting (11th Edition)

Ch. 3 - Governmental budgeting and budgetary control are...Ch. 3 - Distinguish between the following types of...Ch. 3 - Prob. 3Q Ch. 3 - What are budgetary control points? How do they...Ch. 3 - Prob. 5Q Ch. 3 - Why might a local government not prepare and adopt...Ch. 3 - Revenue estimates and appropriations enacted are...Ch. 3 - In business accounting, a single general ledger...Ch. 3 - Illustrations 3-2 and 3-3 show Revenues Subsidiary...Ch. 3 - An interim budgetary comparison statement for a...

Ch. 3 - Prob. 11Q Ch. 3 - An annual budgetary comparison schedule for a...Ch. 3 - General budgets are most common for which of the...Ch. 3 - Special budgets are best defined as budgets a....Ch. 3 - Prob. 1.3E Ch. 3 - Which of the following statements is false? a....Ch. 3 - Which of the following statements is true? a....Ch. 3 - Appropriation requests for the General Fund are...Ch. 3 - Which of the following statements would be true...Ch. 3 - Prob. 2.3E Ch. 3 - Which of the following GAAP requirements for...Ch. 3 - Prob. 2.5E Ch. 3 - Prob. 3.1E Ch. 3 - Which of the following items does a government...Ch. 3 - The budget data presented in a school district...Ch. 3 - Allotments are best defined as a. legislative...Ch. 3 - Prob. 4E Ch. 3 - Prob. 5E Ch. 3 - (Budgetary EntriesGeneral Ledger) The city of...Ch. 3 - (General LedgerSubsidiary Ledgers Relationship,...Ch. 3 - (General Ledger Entries) Record the following...Ch. 3 - (Encumbrances) Record the following transactions...Ch. 3 - (Operating Budget Preparation) The finance...Ch. 3 - (Budgetary and Other EntriesGeneral and Subsidiary...Ch. 3 - Prob. 3P Ch. 3 - (Budgetary Comparison StatementBudgetary Basis...Ch. 3 - (a) Prepare general ledger and subsidiary ledger...Ch. 3 - Using the information from C3-2 and assuming that...

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Solution Summary: The author explains how to prepare a draft operating budget for the fiscal year 20X8.

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