The City of Portland has the following budget data for one of its Special Revenue Funds for the upcoming fiscal year: Estimated Revenues: $7,900,000 Appropriations: $8,900,000 Estimated Other Financing Sources: $1,100,000 The city just approved the budget and these amounts. Prepare the necessary budgetary journal entry in the General Ledger to record the budget.

The City of Portland has the following budget data for one of its Special Revenue Funds for the upcoming fiscal year: Estimated Revenues: $7,900,000 Appropriations: $8,900,000 Estimated Other Financing Sources: $1,100,000 The city just approved the budget and these amounts. Prepare the necessary budgetary journal entry in the General Ledger to record the budget.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter22: Budgeting

Section: Chapter Questions

Problem 3TIF: Communication The city of Milton has an annual budget cycle that begins on July 1 and ends on June...

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