Baruch City had budgeted revenues of $ $10$ million and budgeted expenditures of $$16$ million. In addition, Baruch expected to issue $ $7$ million of bonds payable.

Explain in detail what the journal entry would be to record the adoption of the budget

Baruch City ordered equipment with an estimated cost of $ $500,000.$ The actual cost was $ $510,000.$ Explain in detail what the journal entry would be to record the purchases of the equipment. Baruch City employs encumbrance accounting

In the current year, Baruch City built a new city hall building. It was financed with the issue of bonds. How is this event reported in the government wide statement of net position and in the fund based balance sheet?