The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the...
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The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta for the first quarter of the fiscal year appeared as follows: Revenues Ledger Account Ref. 3/4020 Account Title Est. Revenues Dr (Cr) Revenues Cr (Dr) Balance Dr (Cr) Taxes Real Property 101 Budget Authorization 759,000 102 Received in Cash 208, 100 759,000 550, 900 3/4050 Licenses and Permits 101 Budget Authorization 109,000 109,000 102 Received in Cash 10,900 98, 100 3/4070 Intergovernmental Revenue 101 Budget Authorization 59,000 59,000 102 Received in Cash 15,900 43, 100 103 13, 400 56, 500 Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Increase Encumbrances Decrease Account Ref Account Description Dr (Cr) Encumbrances Balance Dr (Cr) Expenditures Dr (Cr) Expenditures Balance Dr (Cr) Appropriation Cr (Dr) 5/6/7020 General Government 101 Budget Authorization 644,000 102 Purchase Order Issued 6,850 6,850 Balance Cr (Dr). 644,000 637, 150 102 Payroll 102 Goods Received 5, 150 1,700 158, 100 5, 100 158, 100 163, 200 479, 050 479, 100 5/6/7030 Public Safety 101 Budget Authorization 134,000 134, 000 102 Payroll 30, 900 30, 900 103, 100 103 51,800 154, 900 5/6/7050 Culture and Recreation 101 Budget Authorization 94,000 94,000 102 Purchase Order Issued 1,650 1,650 92, 350 102 Goods Received 1,650 0 102 Payroll 1,450 15, 450 1, 450 16,900 92, 550 77, 100 5/6/7070 Miscellaneous 101 Budget Authorization 15,900 15, 900 Required Assuming that there are no other General Fund revenue or expenditure transactions, answer the following questions. a. What were the original approved budget amounts for Estimated Revenues and for Appropriations? b. (1) Which accounts were adjusted during the period and by how much? (2) In total, has Budgetary Fund Balance increased, decreased, or remained the same during the first fiscal quarter? c. (1) What are the current balances of the Estimated Revenues and Appropriations control accounts? (2) What are the current balances of the Revenues, Encumbrances, and Expenditures control accounts? Complete this question by entering your answers in the tabs below. Required A Required B Required C What were the original approved budget amounts for Estimated Revenues and for Appropriations? Estimated Revenues Appropriations Budget Amounts < Required A Required B > The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta for the first quarter of the fiscal year appeared as follows: Revenues Ledger Account Ref. 3/4020 Account Title Est. Revenues Dr (Cr) Revenues Cr (Dr) Balance Dr (Cr) Taxes Real Property 101 Budget Authorization 759,000 102 Received in Cash 208, 100 759,000 550, 900 3/4050 Licenses and Permits 101 Budget Authorization 109,000 109,000 102 Received in Cash 10,900 98, 100 3/4070 Intergovernmental Revenue 101 Budget Authorization 59,000 59,000 102 Received in Cash 15,900 43, 100 103 13, 400 56, 500 Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Increase Encumbrances Decrease Account Ref Account Description Dr (Cr) Encumbrances Balance Dr (Cr) Expenditures Dr (Cr) Expenditures Balance Dr (Cr) Appropriation Cr (Dr) 5/6/7020 General Government 101 Budget Authorization 644,000 102 Purchase Order Issued 6,850 6,850 Balance Cr (Dr). 644,000 637, 150 102 Payroll 102 Goods Received 5, 150 1,700 158, 100 5, 100 158, 100 163, 200 479, 050 479, 100 5/6/7030 Public Safety 101 Budget Authorization 134,000 134, 000 102 Payroll 30, 900 30, 900 103, 100 103 51,800 154, 900 5/6/7050 Culture and Recreation 101 Budget Authorization 94,000 94,000 102 Purchase Order Issued 1,650 1,650 92, 350 102 Goods Received 1,650 0 102 Payroll 1,450 15, 450 1, 450 16,900 92, 550 77, 100 5/6/7070 Miscellaneous 101 Budget Authorization 15,900 15, 900 Required Assuming that there are no other General Fund revenue or expenditure transactions, answer the following questions. a. What were the original approved budget amounts for Estimated Revenues and for Appropriations? b. (1) Which accounts were adjusted during the period and by how much? (2) In total, has Budgetary Fund Balance increased, decreased, or remained the same during the first fiscal quarter? c. (1) What are the current balances of the Estimated Revenues and Appropriations control accounts? (2) What are the current balances of the Revenues, Encumbrances, and Expenditures control accounts? Complete this question by entering your answers in the tabs below. Required A Required B Required C What were the original approved budget amounts for Estimated Revenues and for Appropriations? Estimated Revenues Appropriations Budget Amounts < Required A Required B >
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Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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