Question
A county's general fund has $4,000,000 in purchase orders outstanding at the beginning of 2020. The orders are delivered in 2020 and the county pays
A county's general fund has $4,000,000 in purchase orders outstanding at the beginning of 2020. The orders are delivered in 2020 and the county pays the suppliers $4,000,000. Expenditures ordered, delivered and paid for in 2020 total $35,000,000. Near the end of 2020, encumbrances for $5,000,000 in purchase orders are recorded. Encumbrances are reported in fund balanceassigned. Using the GAAP budgetary basis, what amount does the county report for expenditures in 2020?
| A. | $35,000,000 | |
| B. | $44,000,000 | |
| C. | $40,000,000 | |
| D. | $39,000,000 |
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Excel Para Auditores Aplicando Excel A La Auditoria
Authors: Antonio P. Peralta C.
1st Edition
9945803697, 978-9945803693
