The City of Aurora increased its revenue budget by $75,000…
The City of Aurora increased its revenue budget by $75,000 and the appropriation for the Public Works Department was increased by $100,000. What is the journal entry to record this event in the General Fund? A. Estimated Revenues 75,000 Fund Balance-unassigned 25,000 Appropriations l 100,000 B. Appropriations 100,000 Estimated Revenues 75,000 Budgetary Fund Balance 25,000 C. Estimated Revenues 75,000 Budgetary Fund Balance 25,000 Appropriations 100,000 D. Estimated Revenues 75,000 Appropriations 75,000
Read DetailsWhich of the following is true regarding the governmental fu…
Which of the following is true regarding the governmental fund financial statements? A. The governmental fund financial statements include the Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balances. B. The governmental fund financial statements include the Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balances. C. Both of the above. D. Neither of the above.
Read DetailsWhich of the following best describes the recommended format…
Which of the following best describes the recommended format for the government-wide statement of activities? A. Program revenues minus expenses minus other revenues and expenses equals change in net position. B. Program revenues plus general revenues minus expenses equals change in net position. C. Program revenues minus expenses plus general revenues equals change in net position. D. Expenses minus program revenues plus general revenues equals change in net position.
Read DetailsIn February, X City ordered $550,000 of supplies. On March 1…
In February, X City ordered $550,000 of supplies. On March 17th it received all of the ordered supplies and an invoice of $551,000. Which of the following would be recorded upon receipt of the supplies and invoice? A. Debit Encumbrances for $550,000. B. Debit Encumbrances for $551,000. C. Debit Encumbrances Outstanding for $550,000. D. Debit Encumbrances Outstanding for $551,000.
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