Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in the amount

image text in transcribed

The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in the amount of $8,900,000. During the month of July 2020, the following transactions occurred (in summary): Purchase orders were issued in the amount of $520,000. Of the $520,000 in purchase orders, $480,000 were filled, with invoices amounting to $478,000. Salaries, not encumbered, amounted to $302,000. A budget appropriations reduction in the amount of $50,000 was approved by the city council. Prepare an appropriations, expenditures, and encumbrances ledger for the police department for the month of July. (Credit amounts should be indicated by a minus sign.) Transaction CITY OF SOUTH RIVER Appropriation, Expenditures, and Encumbrances Ledger General Fund: Public Safety - Police Month: July, 2020 Reference 1 Budget 2 Purchase Orders Issued 3. Invoices Received and Approved for Payment 4 Payrolls 5 Budget Revision Total Unexpended Appropriations Encumbrances Expenditures Appropriation Balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

5th edition

9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169

Students also viewed these Accounting questions