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Put these transaction into a general ledger General Ledger Entries Record the following transactions in the General Ledger accounts of the General Fund. 1. The
Put these transaction into a general ledger
General Ledger Entries Record the following transactions in the General Ledger accounts of the General Fund. 1. The government adopted the following budget on the modified accrual basis Estimated Revenues Licenses, permits, & registrations Charges for Services Fincs and forfeitures Property Taxes Total estimated Revenues 920,000 575,000 300,000 9.500.000 Appropriations General Government Public Safety Highways and Streets Health and Sanitation Education Culture and Recreation 2,000,000 3,670,000 4,200,000 800,000 430,000 200.000 Total Appropriations Excess (Deficiency) of Est. Revenues over Appropriations 2. The commissioners reviewed the budget during the year and revised the estimate of Charges for services to S625,000, increased the Public Safety and Education by S15,000 cach to compensate for the anticipated increase in revenues, and increased the Health and Sanitation appropriations by $22,000 because of costs incurred in connection with an unusual outbreak of coronavirus 3. Purchase orders were issued and contracts signed in following amounts: General Government 500,000 Public Safety 2,200,000 Highways and Streets 3,200,000 Health and Sanitation 400,000 Education 65,000 Culture and recreation 100,000 4. Goods and Services under purchase orders and contracts were received (estimated costs): General Government 480,000 Public safety 870,000 Highways and streets 800,000 Heath and sanitation 200,000 Education 60,000 Culture and recreation 90.000 The actual costs were assume they were paid): General Government 510,000 Public Safety 820.000 Step by Step Solution
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