The Budgetary Comparison Schedule for the City of Vienna appears below. Several items of information are missing
Question:
Required:
a. Determine the missing amounts.
b. During the year, the City made a single budget revision. Prepare the journal entry to record thatrevision.
Transcribed Image Text:
CITY OF VIENNA Budgetary Comparison Schedule General Fund For the Year Ended December 31, 2012 Actual Variance with Amounts Final Budget Budgeted Amountsgetary Positive Original Final Basis) $3.400,000 500,000 (Negative) Revenues: Taxes Licenses Intergovernmental Miscellaneous $3,200,000 900,000 500,000 100,000 4,700,000 $100,000 (2,000) 900,000 500,000 104,000 1,000 99,000 Total revenues Expenditures and encumbrances General government Parks Health and welfare 925,000 2,500,000 2,500,000 2,400,000 1,200,000 1,204,000 15,000 100,000 54,000 Total expenditures and encumbrances Net change in fund balance Fund balance- beginning Fund balance ending 50,000 332,000 382,000 160,000 350,000 $510,000 428,000 350,000 5778,000 169,000 268,000 0 $268,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
a City of Vienna Budgetary Comparison Schedule General Fund For the Year Ended Dec 31 2012 Actual Am...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ Reviews
10+ Question Solved
Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
Question Posted:
Students also viewed these Cost Accounting questions
-
Prepare the journal entry to record income taxes on December 31, 2011, assuming that Turner Corporations income tax expense is $35,000 and that it owes $30,000 in income taxes to the government....
-
Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0.50 par value common stock assuming the shares sell for: a. $0.50 cash per share. b. $2 cash per share.
-
Prepare the journal entry to record Selectist Companys issuance of 104,000 shares of no-par value common stock assuming the shares: a. Sell for $15 cash per share. b. Are exchanged for land valued at...
-
The operations of Balloons Ltd. generated the following data for its current December 31 taxation year: Business losses (150,000) Dividends received and deducted (Division C) 25,000 Bond interest...
-
A summary of changes in the capital accounts of the Kat, Lyn, and Mol partnership for 2016, before closing partnership net income to the capital accounts, is as follows: REQUIRED: Determine the...
-
Consider a jar of helium with a temperature of 0C. What will its temperature be if it is twice as hot (has twice the internal energy)?
-
On December 31,2010, the Accounts Receivable balance of Alterations Express is $300,000. The Allowance for Uncollectible Accounts has a $3,900 credit balance. Alterations prepares the following aging...
-
Mr. Davis was the owner and CEO of Davis Motors, a car company, which manufactured luxury car. Ms. Clara Brown worked there as a technical supervisor. During routine inspections, she found that the...
-
What are some potential benefits to companies of paying executives with stock options? What are some potential risks to companies of paying executives with stock options?
-
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit...
-
The City of South Dundee budget for the fiscal year ended June 30, 2012, included an appropriation for the police department in the amount of $16,000,000. During the month of July 2011, the following...
-
Appearing below is the subsidiary ledger for the public safety department of the City of Boone. After the first month of the year, five entries have been made to the ledger. Describe the most likely...
-
(a) In general, are oral contracts as valid and enforceable as written ones? (b) Why should contracting parties consider reducing their agreement to writing?
-
Sammy's Pizza opened on January 1, Year 1. Sammy's reported the following for cash revenues and cash expenses for the Years 1 to 3: Year Year 1 Year 2 Year 3 Required Cash Revenues Cash Expenses...
-
Kretsmart has significant influence by owning 40,000 of the 100,000 outstanding shares of Jaunty Coffee Co. W common stock. During the current year, Jaunty Coffee Co. earns $640,000 and pays cash...
-
Factor the trigonometric expression completely. 2 cos2 T+ 13 cos T+20 2 cos2T+13 cos T+20= (2 cos T+ (cos T+
-
The net income of Leonard's Resume Writing Service has been reported on the income statement as $51,875. There was an unidentified adjusting entry for accrued salaries of $1,100 that were not...
-
2. You are tasked by your manager to analyze a domain for registering candidate for an election within your institution. Each member of the institution is to be registered once and assigned a unique...
-
Two couples love eating at restaurants, particularly when they can go together. However, one couple prefers organic food while the other would rather eat non-organic food. If they go together, the...
-
A line l passes through the points with coordinates (0, 5) and (6, 7). a. Find the gradient of the line. b. Find an equation of the line in the form ax + by + c = 0.
-
In Problems 50 and 51, approximate (to four decimal places) the value(s) of x where the graph of f has a horizontal tangent line. f(x) = x 4 - 2x 3 - 5x 2 + 7x
-
Using the annual report obtained for Exercise 11, answer the following questions. a. Review the Statement of Revenues, Expenditures, and Changes in Fund Balances for the governmental funds. List the...
-
The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2020: From the information...
-
The following General Fund information is available for the preparation of the financial statements for the city of Eastern Shores for the year ended September 30, 2020: From the information given...
-
An insulated circular ring of diameter 6.50 cm carries a I2 = 12.5 A current and is tangent to a very long, straight insulated wire carrying I = 7.50 A of current, as shown in (Figure 1). Part A Find...
-
Why does Marriott Bonvoy have the best loyalty program relative to the cost associated with the program and the program's overall effectiveness? Justify your selection with specific examples.
-
Assignment - Resultant of Simple Distributed Loads 6 kip 1 kip.ft A 2 ft 3 ft 2 ft 2 ft C Q1. Fig.1 shows the plan of a floor slab with a beam A-C. Determine the equivalent resultar force exerted on...
Study smarter with the SolutionInn App