1. The total annual budget for the year is $312,015.00. Total expenditures for the year were: supplies, $31,969.05; salaries, $172,381.40; and other charges, $42,163.11. Reimbursements totaled $82,382.00 and revenues, $56,418.57. How much money was left at the end of the year?

1. $65,501.44
2. $147,883.44
3. $121,920.01
4. $204,302.01

2. Assume that in preparing a trial balance, a debit balance of $300 is placed in the credit column. This action would cause a discrepancy in the trial balance of:

1. $75
2. $150
3. $300
4. $600

3. A companys capitalization policy is to only capitalize items over $5,000. If the company pays $4,000 in cash for a trailer, what would be the appropriate entry to make in the companys books?

1. Debit accounts payable for $4,000 and credit fixed assets for $4,000.
2. Debit fixed assets for $4,000 and credit cash for $4,000.
3. Debit expense for $4,000 and credit cash for $4,000.
4. Credit fixed assets for $4,000 and debit cash for $4,000.