The 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 balance…50,000

At the end of fiscal 2013, what would be the effect on the ending actual fund balance, assuming the following?

Actual revenues are equal to estimated revenues, and actual expenditures are $7,000 less than appropriations.

Actual revenues are equal to estimated revenues, and actual expenditures are equal to appropriations.

Actual revenues exceed estimated revenues by $4,000, and actual expenditures are equal to appropriations.

Actual revenues are $3,000 less than estimated revenues, and actual expenditures are $2,000 less than appropriations.

Answer rating: 100% (QA)

The total cost is5000000 plus the Appropria... View the full answer