Question
1)The Village of Beit Safafa recorded the following budgetary journal entry at the beginning of fiscal 2021: Estimated revenue 200000 Appropriations 150000 Budgetary fund balance
1)The Village of Beit Safafa recorded the following budgetary journal entry at the beginning of fiscal 2021: Estimated revenue 200000 Appropriations 150000 Budgetary fund balance 50,000 At the end of fiscal 2021, what would be the effect on the ending actual fund balance, assuming the following: # Actual revenues exceed estimated revenues by $5000, and actual expenditures are equal to appropriations. * a.Revenues - Expenditures = [$200000 + $5,000] - $150000 = $55,000 decrease. b.Revenues - Expenditures = [$200000 + $5,000] - $150000 = $55,000 increase. c.none of the above ............. 2)At the beginning of its fiscal year, the Town of Aarmon estimates that its revenues for street maintenance activities are $100,000, and it appropriates $90,000 for street maintenance supplies. It currently has outstanding encumbrances for street maintenance supplies of $40,000 and has incurred expenditures for street maintenance supplies of $30,000. How much does the Town of Aarmon currently have available to spend for street maintenance supplies?age of three to enter at half-price. What type of fund should it use for this purpose? * a.$20,000 b $30,000 c.$40,000 d.$50,000 e.$60,000 ............. 3)The Village of Beit Safafa recorded the following budgetary journal entry at the beginning of fiscal 2021: Estimated revenue 200000 Appropriations 150000 Budgetary fund balance 50,000 At the end of fiscal 2021, what would be the effect on the ending actual fund balance, assuming the following: # Actual revenues are $3,000 less than estimated revenues, and actual expenditures are $2,000 less than appropriations. * a.Revenues - Expenditures = [$200000 - $3,000] - [$150000 - $2,000] = $49,000 increase. b.Revenues - Expenditures = [$200000 - $3,000] - [$150000 - $2,000] = $49,000 decrease. c.none of the above
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