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Question 3 (10 points) The following information is provided about the City of Morrow's General Fund operating statement and budgetary accounts for the fiscal year
Question 3 (10 points) The following information is provided about the City of Morrow's General Fund operating statement and budgetary accounts for the fiscal year ended Sept. 30, 2021. (Note: The City has no restricted, committed, or assigned fund balance.) Estimated Revenues $ 48,225,000 Revenues 48,285,000 Expenditures 48,277,500 Fund Balance - Unassigned Sept. 30, 2020 750,000 Appropriations 48,262,500 1. Prepare the journal entry to record the budget Calculate the end-of-year balance for the Fund Balance - Unassigned that would be reported on the town's balance sheet prepared as of Sept. 30, 2021. Show all necessary work
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