Each of the accounts listed below will be affected when Jacob City closes its books for...

 

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Each of the accounts listed below will be affected when Jacob City closes its books for the year. When the budget was adopted, anticipatory assets exceeded anticipatory liabilities. The city has decided to honor the commitments reflected in its encumbrances outstanding at year end. The encumbered amounts have not been restricted, committed, or assigned. Indicate how each account in the general fund will be affected by selecting the appropriate circle. Account Debit Credit 1. Encumbrances outstanding 2. Estimated other financing uses 3. Budgetary fund balance 4. Appropriations 5. Estimated revenues 6. Encumbrances Each of the accounts listed below will be affected when Jacob City closes its books for the year. When the budget was adopted, anticipatory assets exceeded anticipatory liabilities. The city has decided to honor the commitments reflected in its encumbrances outstanding at year end. The encumbered amounts have not been restricted, committed, or assigned. Indicate how each account in the general fund will be affected by selecting the appropriate circle. Account Debit Credit 1. Encumbrances outstanding 2. Estimated other financing uses 3. Budgetary fund balance 4. Appropriations 5. Estimated revenues 6. Encumbrances

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Answer Account Debit Credit 1 Encumbranc... View the full answer