P10.15 Budget and Closing Entries Budgetary comparison information for the budgeted line items in the general fund, taken from the 2016 CAFR for the State of New York, is as follows: Variance with Budget (in millions) Budget Actual Revenues Taxes Miscellaneous $46,432 5,820 52,252 $45,963 5,842 $ (469) 22 Total revenues. 51,805 (447) 43,314 7,955 5,397 839 267 0 44,153 8,222 5,397 57,772 (5,520) 1,106 56,666 (4,861) 659 Expenditures Local assistance grants State operations .. General state charges. Total expenditures. .. Excess (deficiency) of revenues over expenditures. Other financing sources (uses) Transfers from other funds. Transfers to other funds. Net other financing sources (uses) .. Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses. ... 18,042 (15,020) 3,022 17,871 (11,375) 6,496 (171) 3,645 3,474 $ (2,498) $ 1,635 $4,133 Required For the general fund budgeted accounts shown above, Prepare the 2016 budget entry for these items. b. Prepare the closing entries. What is the net effect on the general fund's fund balance - unassigned? d. Evaluate New York State's performance for 2016. a. C. P10.15 Budget and Closing Entries Budgetary comparison information for the budgeted line items in the general fund, taken from the 2016 CAFR for the State of New York, is as follows: Variance with Budget (in millions) Budget Actual Revenues Taxes Miscellaneous $46,432 5,820 52,252 $45,963 5,842 $ (469) 22 Total revenues. 51,805 (447) 43,314 7,955 5,397 839 267 0 44,153 8,222 5,397 57,772 (5,520) 1,106 56,666 (4,861) 659 Expenditures Local assistance grants State operations .. General state charges. Total expenditures. .. Excess (deficiency) of revenues over expenditures. Other financing sources (uses) Transfers from other funds. Transfers to other funds. Net other financing sources (uses) .. Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses. ... 18,042 (15,020) 3,022 17,871 (11,375) 6,496 (171) 3,645 3,474 $ (2,498) $ 1,635 $4,133 Required For the general fund budgeted accounts shown above, Prepare the 2016 budget entry for these items. b. Prepare the closing entries. What is the net effect on the general fund's fund balance - unassigned? d. Evaluate New York State's performance for 2016. a. C