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