Problem #1 - Budgeting The Village of Fighting Mules approved a General Fund operating budget. Vouchers and encumbrances are used to strengthen internal control over cash disbursements. The fiscal year ends on June 30th. The following information is available as of June 1, 2020: Revenues and Other Financing Sources SOURCE Revenues-Property Taxes Other Financing Sources BUDGETED $3,000,000 $100,000 ACTUAL $2,900,000 $105,000 CASH RECEIPTS $2,800,000 $80,000 Expenditures FUNCTION APPROPRIATED PURCHASE ORDERS ISSUED GOODS CASH DELIVERED and PAYMENTS INVOICED General $1,900,000 $1,820,000 $1,850,000 VENDORS $1,750,000 Government Public Safety $390,000 $420,000 $415,000 $370,000 Additional Information: General Government has $10,000 in open Purchase Orders. i. ii. Public Safety received all goods ordered. Required: On the following page, create the general ledger and subsidiary ledgers. Post all relevant information. Use our work to answer the following questions: (a) Total Expenditures to Date (b) Balance of Vouchers Payable (c) Total Encumbrances Outstanding (d) Total Unrealized Revenues (e) Budgeted Surplus/Deficit (f) Actual Surplus/Deficit (g) Amount of Property Tax Variance (F/U)_ (h) Amount of Public Safety Variance (F/U). (i) Appropriations Avail. to Expend - General Government Version 1 2