Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this is accounting question [The following information applies to the questions displayed below.] The following transactions occurred during the 2017 fiscal year for the City

image text in transcribedimage text in transcribedimage text in transcribed

this is accounting question

[The following information applies to the questions displayed below.] The following transactions occurred during the 2017 fiscal year for the City of Evergreen. For budgetary purposes, the city reports encumbrances in the Expenditures section of its budgetary comparison schedule for the General Fund but excludes expenditures chargeable to a prior year's appropriation. 1. The budget prepared for the fiscal year 2017 was as follows: Estimated Revenues: 1.978.000 axes Licenses and permits 377,000 Intergovernmental revenue 402.000 Miscellaneous revenues 67.000 Total estimated revenues 2,824,000 Appropriations General government 481,500 Public safety 896,500 Public works 660,500 Health and welfare 610.500 Miscellaneous 91,000 Total appropriations 2.740.000 Budgeted increase in fund balance 84.000 2. Encumbrances issued against the appropriations during the year were as follows: 63,000 General government Public safety 255.000 397000 Public works Health and welfare 164.950 Miscellaneous 76,000 $955.950 Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Affordable Housing Finance

Authors: K. Hawtrey

2009th Edition

0230555187, 978-0230555181

More Books

Students also viewed these Finance questions