ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
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Chapter 3, Problem 28EP

Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $152 (in thousands) and that the budget was not amended during the year.

Chapter 3, Problem 28EP, Greenville has provided the following information from its General Fund Revenues and

Required

  1. a.      Prepare a General Fund statement of revenues, expenditures, and changes in fund balance.
  2. b.      Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance—budget and actual (assume the budget is prepared on a GAAP basis).
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Greenville has provided the following Information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $149 (in thousands) and that the budget was not amended during the year. City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) Estimated Revenue Taxes For the Fiscal Year Fines & Forfeits Intergovernmental Revenue Charges for Services Revenues Debits 6,048 303 497 370 Credits Taxes Fines & Forfeits Intergovernmental Revenue Charges for Services Appropriations Public Safety General Government 6,080 308 497 368 1,636 3,375 Public Works Culture & Recreation Interfund Transfers Out Expenditures General Government 1,465 724 Estimated Other Financing Uses 48. 1,622 Public Safety 3,360 Public Works 1,443 Culture & Recreation 715 Encumbrances General Government 12 I Public Safety 13 Public Works 21 232 Culture & Recreation 0 Other Financing Uses Interfund…
The Appropriations account of a governmental fund is credited when: a. The budgetary accounts are closed b. The budget is recorded c. Supplies are purchased d. Expenditures are recorded
subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $140 (in thousands) and that the budget was not amended during the year. Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Estimated Revenue Taxes Fines & Forfeits City of Greenville General Fund Intergovernmental Revenue Charges for Services Revenues Taxes Fines & Forfeits Intergovernmental Revenue Charges for Services Appropriations General Government Public Safety Public Works Culture & Recreation Estimated Other Financing Uses Interfund Transfers Out Expenditures General Government Public Safety Public Works Culture & Recreation Encumbrances General Government Public Safety Public Works D Culture & Recreation Other Financing Uses Interfund Transfers Out Debits 6,048 303 484 370 1,622 3,347 1,443 703 1 26 10 0 36 Credits 6,054 308 484 368 1,625 3,375 1,454 724 36 Required a. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance. b. Prepare a…

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ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.

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