Which of the following fund balance types would increase, when cash received is restricted internally by the highest authority in the organization per GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions for Governmental Funds? A. Restricted. B. Committed. C. Unreserved. D. Assigned

Based on the following transactions prepare the correct journal entry in proper form. On the next page, prepare a reconciliation worksheet. Dont forget the last step (make sure all the figures balance). A. The budget was formally adopted. Estimated revenues are $10,000 and appropriations are estimated to be $5,000 B. Salaries of $1,100 are paid in cash. C. Purchase orders were issued in the amount of $600. D. One-third of the purchase orders from C were received. The actual amount due was $190. The remaining purchase orders will be received at a later date. E. The remaining purchase orders from C were received. The actual amount due is $450.

prepare Appropriations Expenditures Encumbrances Ledger