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A. Al Rayyan City Council approved the 2016 budget as follows: During the year 2016, the President of the City Council approved the amendment of
A. Al Rayyan City Council approved the 2016 budget as follows: During the year 2016, the President of the City Council approved the amendment of the budget by increasing the appropriations of salaries by 30,000 riyals. Sales tax reduction amounted to 20,000 riyals. B. The following information appeared from the adjusted trial balance of the public finances of Al Khor City at the end of the 2016 fiscal year: Required: 1. Prepare the closing entry for General Fund accounts (both budgetary and actual events). 2. Calculate the fund balance ending for Al Khor City. A. Al Rayyan City Council approved the 2016 budget as follows: During the year 2016, the President of the City Council approved the amendment of the budget by increasing the appropriations of salaries by 30,000 riyals. Sales tax reduction amounted to 20,000 riyals. B. The following information appeared from the adjusted trial balance of the public finances of Al Khor City at the end of the 2016 fiscal year: Required: 1. Prepare the closing entry for General Fund accounts (both budgetary and actual events). 2. Calculate the fund balance ending for Al Khor City
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