Question
Part A: Johnson City adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes $ 15,000,000 Intergovernmental revenues 1,000,000 Licenses and permits
Part A: Johnson City adopted the following General Fund budget for fiscal year 2017: |
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Estimated revenues: |
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Taxes | $ | 15,000,000 |
Intergovernmental revenues |
| 1,000,000 |
Licenses and permits |
| 400,000 |
Fines and forfeits |
| 150,000 |
Miscellaneous revenues |
| 100,000 |
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Total estimated revenues | $ | 16,650,000 |
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Appropriations: |
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General government | $ | 8,000,000 |
Public safety |
| 6,000,000 |
Public works |
| 1,550,000 |
Health and welfare |
| 950,000 |
Miscellaneous |
| 100,000 |
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Total appropriations | $ | 16,600,000 |
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Required | |
Prepare the general journal entries to record the adopted budget at the beginning of FY 2017 |
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