Question: Sleepy Hollow s General Fund budget for fiscal 2013 is based
Sleepy Hollow’s General Fund budget for fiscal 2013 is based on the following estimated revenues and appropriations. Is Sleepy Hollow projecting a budgetary surplus or a deficit for 2013? Prepare the journal entry to record the 2013budget.
Answer to relevant QuestionsThe Village of Albert’s Alley recorded the following budgetary journal entry at the beginning of fiscal 2013:Estimated revenue ............. 5,000,000 Appropriations................... 4,950,000 Budgetary fund ...The following information relates to the prior- and current- year revenues of the Jeter Village General Fund.Additional information: 1. Because of a reassessment of commercial property, property taxes are expected to ...Prepare the revenues and expenditures subsidiary ledgers for the 2013 events and transactions of Lawton City listed in P3- 7. What is the balance for each revenue source after the final transaction? What is the available ...Give examples of liabilities that must be accrued under the modified accrual basis of accounting, and explain why those accruals must be made. On August 10, 2012, the school district in exercise E4- 2 issued a purchase order for school supplies in the amount of $ 50,000. On August 20 the school supplies arrived, together with an invoice for $ 51,000. The invoice ...
Post your question