The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta as of March 31, 2017, appeared as follows:

Required
Assuming that this printout is correct in all details and that there are no other General Fund revenue or expenditure transactions, answer the following questions. Show all necessary computations in good form.
a. What were the original approved budget amounts for Estimated Revenues and for Appropriations?
b. (1) Was the Estimated Revenues budget adjusted during the year?
(2) If so, by how much?
(3) If so, was the original budget increased or decreased?
c. (1) What are the current balances of the Estimated Revenues and Appropriations control accounts?
(2) What are the current balances of the Revenues and Expenditures control accounts?
(3) What do these balances indicate?

Transcribed Image Text:

REVENUES LEDGER Est. Revenues Revenues Balance Dr(Cr) Account Ref. Year Account Title Dr(Cr) Cr(Dr) Dr 3/4020 Taxes-Real Property 101 2017 Budget Authorization 102 2017 Received in Cash 750,000 750,000 200,000 550,000 3/4050 Licenses and Permits 101 2017 Budget Authorization 102 2017 Received in Cash 100,000 100,000 90,000 10,000 3/4070 Intergovernmental Revenue 101 2017 Budget Authorization 102 2017 Received in Cash 103 2017 50,000 35,000 47,500 50,000 15,000 12,500