Dugger County appropriated $45,000 in its General Fund for miscellaneous supplies for its fiscal year ended September
Question:
Dugger County appropriated $45,000 in its General Fund for miscellaneous supplies for its fiscal year ended September 30, Year 2. The County found that it had paid $15,000 for miscellaneous supplies in November Year 1 and issued a $30,000 purchase order to a sole source vendor for miscellaneous supplies in December Year 1. By August Year 2, the County had received $20,000 related to the order but did not pay the vendor until October pending tax receipts. Appropriations do not lapse. What entry would Dugger County make at year-end to close its books on September 30, Year 2?
A. Debit Appropriations Control for $45,000.
B. Debit Appropriations Control for $35,000 .
C. Debit Appropriations Control for $10,000.
D. Credit Appropriations Control for $35,000
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi