Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

07 Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2020. 1. Estimated

07 Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2020. 1. Estimated revenues (legally budgeted) Property taxes Sales taxes Licenses and permits Miscellaneous 2. Appropriations General government Culture and recreation Health and welfare 3. Revenues received (cash) Property taxes Sales taxes Licenses and permits Miscellaneous 4. Encumbrances issued (includes salaries and other recurring items) General government Culture and recreation Health and welfare 5, Goods and services received (paid in cash) General government Culture and recreation Health and welfare 6. Budget revisions $ 5,641,000 4,830,000 1,500,000 500,000 Prey 1 of 10 $ 5,285,000 4,210,000 1,000,000 $ 5,545,000 4,700,000 1,700,000 800,000 Estimated

image text in transcribed

$ 5,275,000 4,630,000 905,000 Estimated Actual $5,275,000$ 5,285,000 4,630,000 4,610,000 905,000 890,000 Increase appropriations: General government Culture and recreation 7. Fund balance on January 1, 2020, was $753,000. There were no outstanding encumbrances $ 140,000 110,000 *** Help Save & Exit Next > Submit

Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood

15th Edition

0135572835, 9780135572832

More Books

Students also viewed these Accounting questions

Question

What is job rotation ?

Answered: 1 week ago