Question
Funky Township ordered supplies for $900. The full amount ordered was received, but the invoice was for $940. What budgetary entry should be made to
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Funky Township ordered supplies for $900. The full amount ordered was received, but the invoice was for $940. What budgetary entry should be made to record receipt of the supplies?
Encumbrances 900
Budgetary Fund Balance Reserved for Encumbrances 900
Budgetary Fund Balance Reserved for Encumbrances 940
Encumbrances 940
Budgetary Fund Balance Reserved for Encumbrances 40
Encumbrances 40
Budgetary Fund Balance Reserved for Encumbrances 900
Encumbrances 900
Funky Township ordered supplies for $900. The full amount ordered was received, but the invoice was for $940. What budgetary entry should be made to record receipt of the supplies?
| Encumbrances 900 Budgetary Fund Balance Reserved for Encumbrances 900
| ||
| Budgetary Fund Balance Reserved for Encumbrances 940 Encumbrances 940
| ||
| Budgetary Fund Balance Reserved for Encumbrances 40 Encumbrances 40 | ||
| Budgetary Fund Balance Reserved for Encumbrances 900 Encumbrances 900 |
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Advanced Financial Accounting
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
5th Edition
0072444126, 978-0072444124
