Question: When Rolan County adopted its budget for the year ending June 30, 2009, $20,000,000 was recorded for Estimated Revenues Control. Actual revenues for the year

When Rolan County adopted its budget for the year ending June 30, 2009, $20,000,000 was recorded for Estimated Revenues Control. Actual revenues for the year ended June 30, 2009, amounted to $17,000,000. In closing the budgetary accounts at June 30, 2009,

a. Revenues Control should be debited for

$3,000,000.

b. Estimated Revenues Control should be debited for

$3,000,000.

c. Revenues Control should be credited for

$20,000,000.

d. Estimated Revenues Control should be credited for

$20,000,000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Model Based Testing For Embedded Systems Questions!

When Rolan County adopted its budget for the year ending June 30, Year 1, $20,000,000 was recorded for estimated revenues. Actual revenues for the year ended June 30, Year 1, amounted to $17,000,000...

Q11: When Roland County adopted its budget for the year ending June 30, 2001, $20 million was recorded for estimated revenues, Actual revenues for the year ended June 30, 2001, amounted to $16...

When Roland County adopted its budget for the year ending June 30, 2001, $20 million was recorded for estimated revenues, Actual revenues for the year ended June 30, 2001, amounted to $16 million, In...

When Rolan County adopted its budget for the year ending June 3 0 , Year 1 , $ 2 0 million was recorded for estimated revenues control. Actual revenues for the year ended June 3 0 , Year 1 , amounted...

17- General government financial resources to be used to finance construction of a general government construction project typically should be accounted for in a. A Debt Service Fund. b. A Capital...

When Rolan County adopted its budget for the year ending June 30, 2012, $20,000,000 was recorded for Estimated Revenues Control. Actual revenues for the year ended June 30, 2012, amounted to...

77. When Rolan County adopted its budget for the year ending June 30, 2012, $20,000,000 was recorded for Estimated Revenues Control. Actual revenues for the year ended June 30, 2012, amounted to...

. When Rolan County adopted its budget for the year ending June 30, 2012, $20,000,000 was recorded for Estimated Revenues Control. Actual revenues for the year ended June 30, 2012, amounted to...

last picture is the question Case 25 Hotel Imperial Clara Hausmann, sales director for the Hotel Imperial, strode purposefully into the general manager's office, waving a copy of the Financial Times....

What is the purpose of the contract between the two parties?

Which of the following investments in the following table would be most attractive to a risk-averse investor? How would your answer differ if the investor were described as risk-neutral?...

Which one is correct? Division passes days or Division pass days

What steps could a company take to avoid making product design and marketing mistakes when introducing new products into East Germany? How would you go about hiring a plant manager for a facility you...