Fund balance problems The next three questions are based on the following information. Bell City is in the process of closing its books for the fiscal year ended December 31, 2019. The City ended the fiscal year with a $12,500 deficit (i.e., debit balance) in fund balance. City finance manager, Caroline Pankey, is evaluating the activity in fund balance for the general fund. Help her identify the missing information. Debit Fund balance, beginning Fund balance, pre-closing Fund balance, post-closing Credit $15,000 8,000 $12,500 Budget activity: Estimated revenues Estimated transfers out Appropriations 1,150,000 60,000 222 Actual activity: Revenues Transfers out Expenditures Encumbrances 1.120,000 70,000 272 15,000 Question 67 (3 points) What was the amount of appropriations for the fiscal year ended December 31, 2019? $1,203,000 O $1,083,000 $1,217,000 None of these O $1,097,000 Question 68 (3 points) Saved What was the amount of expenditures for the fiscal year ended December 31, 2019? O None of these O $1.217,500 $1,062,500 $1.202.500 Question 69 (3 points) Considering the net effect to fund balance, are actual results more favorable (good witch) or less favorable (bad witch) than expected, and by how much? Less favorable (bad witch) by $20,500 None of these More favorable (good witch) by $20,500 Less favorable (bad witch) by $4,500 More favorable (good witch) by $4,500