The budget approved on July 1, 2020 for the General fund was as follows: Estimated Revenues 500,000L.E,
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Question:
The budget approved on July 1, 2020 for the General fund was as follows:
Estimated Revenues 500,000L.E,
appropriations 300,000 L.E.
On July 5 taxes collected in cash 140,000 L.E.
On Aug, 12 income taxes levied on tax payers 200,000 L.E.
On Aug 24 the governmental unit obtained services from suppliers for 50,000 L.E vouchers.
On Sept.19 the government unit signed purchase order with supplies of materials for 130,000 L.E.
Required: Prepare General fund balance sheet on each date of Governmental transactions
Expert Answer:
To prepare the General Fund balance sheet on each of the specified dates we need to track the change... View the full answer
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