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Amman city adopts a budget calling for total revenues of $700 million and total expenditures of $650 million. Suppose that during the year both revenues
Amman city adopts a budget calling for total revenues of $700 million and total expenditures of $650 million.
Suppose that during the year both revenues and expenditures were $680 million and $630 million, respectively and that all transactions were for cash.
Requirements:
- Record estimate revenues
- Record appropriation (estimate amount to be spent)
- Record actual revenues
- Record actual expenditure
- Close budgetary accounts (estimate revenues and estimate appropriation
- Close actual revenues and expenditure
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