Question
A county uses the legal budgetary basis to report encumbrances. Information for its latest fiscal year is as follows: Encumbrances outstanding at the beginning of
A county uses the legal budgetary basis to report encumbrances. Information for its latest fiscal year is as follows:
| Encumbrances outstanding at the beginning of the year | $50,000 |
| Encumbrances outstanding at the end of the year | 75,000 |
| Excess of revenues and other financing sources over expenditures and other financing uses, legal budgetary basis | 860,000 |
What is the excess of revenues and other financing sources over expenditures and other financing uses, using the GAAP budgetary basis?
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The Oxford Handbook Of Entrepreneurial Finance
Authors: Douglas Cumming
1st Edition
0195391241, 978-0195391244
