Question
Use the following fact pattern to answer questions 45 through 47: The town of Gatwick Fall, IDs selected trial balance is provided below: Selected Trial
Use the following fact pattern to answer questions 45 through 47:
The town of Gatwick Fall, IDs selected trial balance is provided below: Selected Trial Balance: Debit Credit Estimated Revenues $ 200 Appropriations $ 218 Expenditures--2020 170 Expenditures--2019 2 Revenues 208 Estimated Other Financing Sources 90 Other Financing Sources 90 Budgetary Fund Balance 72 Fund Balance--Unassigned 400
45. The closing entry for the budgetary accounts would include a:
A. Debit to Revenues, $208.
B. Credit to Expenditures2020, $170.
C. Credit to Appropriations, $218.
D. Debit to Budgetary Fund Balance, $72.
46. The closing entry for all of the temporary accounts (non-budgetary accounts) would include a:
A. Credit Estimated Other Financing Sources, $90.
B. Debit Expenditures2020, $170.
C. Credit Expenditures2019, $2.
D. Debit Budgetary Fund Balance, $72.
47. When closing all of the other temporary accounts (non-budgetary accounts), the fund balanceunassigned will be impacted by:
A. Debiting Fund balanceUnassigned, $72.
B. Debiting Fund balanceUnassigned, $128.
C. Crediting Fund balanceUnassigned, $124.
D. Crediting Fund balanceUnassigned, $126. 12
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