Question
E3-9 (Relationship between budgetary fund balance and actual fund balance) fimmrems The Village of Albert's Alley recorded the following budgetary journal entry at the beginning
E3-9 (Relationship between budgetary fund balance and actual fund balance) fimmrems
The Village of Albert's Alley recorded the following budgetary journal entry at the beginning of fiscai 2013:
Estimated revebue $5,000,000 | |
Appropriations $4,950,000 | |
Budgetary fund balance $50,000 |
At the end of fiscal 2013, what would be the effect on the ending actual fitnd balance. assuming the following:
a. Actual revenues are equal to estimated revenues, and actual expenditures are $7,000 less than appropriations.
b. Actual revenues are equal to estimated revenues, and actual expenditures are equal to appropriations.
c. Actual revenues exceed estimated revenues by $4,000, and actual expenditures are equal to appropriations.
d. Actual revenues are $3,000 less than estimated revenues, and actual expenditures are $2,000 less than appropriations.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started