The City of Pleasant Valley adopted the following budget for its general fund for the upcoming fiscal year.

Estimated revenues:

Taxes $5,000,000

Intergovernmental revenues 1,000,000

Licenses and permits 400,000

Fines and forfeits 150,000

Miscellaneous revenues 100,000

Total estimated revenues $6,650,000

Appropriations:

General government $2,000,000

Public safety 2,200,000

Public works 950,000

Health and welfare 850,000

Miscellaneous 50,000

Total appropriations $5,950,000

1. Prepare a summary general journal entry to record the adopted budget at the beginning of FY 2017. Ignore the subsidiary ledger accounts.
2. Use the following to make an entry for purchases. Ignore subsidiary ledger accounts.

General government $150,000

Public safety 100,000

Public works 75,000

Health and welfare 65,000

Miscellaneous 10,000

Total $400,000

1. Use the following to calculate the year-end balances for the Fund Balance. Show your work.
   1. Estimated Revenues $2,150,000
   2. Revenues 2,190,000
   3. Appropriations 2,185,000
   4. Expenditures 3,175,000
   5. Beginning unassigned fund balance 500,000 credit
   6. Budgetary fund balance after the budget was recorded was $30,000