Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2015.

1.Estimated revenues (legally budgeted)

Property taxes $5,700,000

Sales taxes 4,300,000

Licenses and permits 1,500,000

Miscellaneous 500,000

2.Appropriations General government $5,400,000

Culture and recreation 4,500,000

Health and welfare 1,000,000

3.Revenues received (cash) Property taxes $5,285,000

Sales taxes 4,500,000

Licenses and permits 1,700,000

Miscellaneous 800,000

4.Encumbrances issued (includes salaries and other recurring items)

Estimated General government $5,300,000

Culture and recreation 4,650,000

Health and welfare 905,000

5.Goods and services received (paid in cash)

Estimated Actual

General government $5,300,000 $5,296,000

Culture and recreation 4,650,000 4,610,000

Health and welfare 905,000 891,550

6.Budget revisions

Increase appropriations:

General government $140,000

Culture and recreation 110,000

7.Fund balance on January 1, 2015, was $753,000. There were no outstanding encumbrances at that date.

a.Record the transactions using appropriate journal entries.

b.Prepare a budgetary comparison schedule for the General Fund.