Zalo 6:07 See Estimated Revenues: Taxes $ 8,000,000 Licenses and permits 800,000 Intergovernmental 2,000,000 Charges for services 200,000 Fines and forfeits 400,000 Other 600,000 12,000,000 Appropriations: General government 1,000,000 Public safety 4,000,000 Highways and streets 5,000,000 Health and sanitation 900,000 Culture and recreation 400,000 Other 600,000 11,900,000 Excess of Estimated Revenues over Appropriations 100,000 Fund Balance-Beginning 1,400,000 Fund Balance-Ending (Anticipated) $ 1,500,000 The following events occurred during 20X8: 1. Purchase orders issued and contracts let were expected to cost: General government $ 300,000 Public safety 1,200,000 Highways and streets 2,500,000 Health and sanitation 500,000 Culture and recreation 300,000 Other 200,000 $ 5,000,000 2. The commissioners reviewed the budget during the year and (a) revised the estimate of Intergovernmental Revenues to $1,500,000 and reduced the Public safety and Highways and streets appropriations by $225,000 each to partially compensate for the anticipated decline in intergovernmental revenues, and (b) increased the Health and sanitation appropriation by $70,000 because of costs incurred in connection with an unusual outbreak of Tasmanian flu. 3. Revenues (actual) for 20X8 were: Taxes $ 8,150,000 Licenses and permits 785,000 Intergovernmental 1,520,000 Charges for services 210,000 Fines and forfeits 395,000 Other 500,000 $11,560,000 4. Goods and services under purchase orders and contracts were received: Estimated Cost Actual Cost General government $ 280,000 $ 278,000 Public safety 900,000 910,000 Highways and streets 2,500,000 2,500,000 Health and sanitation 440,000 440,000 Culture and recreation 300,000 295,000 Other 180,000 181,000 $4,600,000 $4,604,000 The remaining orders are still outstanding. 5. Other expenditures incurred were: General government $ 700,000 Public safety 2,560,000 Highways and streets 2,271,000 Health and sanitation 485,000 Culture and recreation 45,000 4 nan III 2:27 tl 23% Aa QD P3-2 (Budgetary and Other Entries-General and Subsidiary Ledgers) The Murphy County Commissioners adopted the following Gen- eral Fund budget for the 20x8 fiscal year: Murphy County General Fund Budget-20X8 Estimated Revenues: Taxes $ 8,000,000 Licenses and permits 800,000 Intergovernmental 2,000,000 103 jij Reader Contents Notebook Bookmarks More II o 2:28 00S Jl 23% Aa Qa Tulure and recreation 43,00U Other 391,000 $6,452,000 Required 1. Set up general ledger T-accounts like those in Illustration 3-10 and also rev- enues and expenditures subsidiary ledgers like those in Illustrations 3-20 and 3-30 2. Record the Murphy County 20X8 General Fund budget in the general ledger and subsidiary ledger accounts, keying these entries B (for budget). Then record the numbered transactions and events, key- ing these entries by those numbers. 104 K Reader Contents Notebook Bookmarks More II o Zalo 6:07 See Estimated Revenues: Taxes $ 8,000,000 Licenses and permits 800,000 Intergovernmental 2,000,000 Charges for services 200,000 Fines and forfeits 400,000 Other 600,000 12,000,000 Appropriations: General government 1,000,000 Public safety 4,000,000 Highways and streets 5,000,000 Health and sanitation 900,000 Culture and recreation 400,000 Other 600,000 11,900,000 Excess of Estimated Revenues over Appropriations 100,000 Fund Balance-Beginning 1,400,000 Fund Balance-Ending (Anticipated) $ 1,500,000 The following events occurred during 20X8: 1. Purchase orders issued and contracts let were expected to cost: General government $ 300,000 Public safety 1,200,000 Highways and streets 2,500,000 Health and sanitation 500,000 Culture and recreation 300,000 Other 200,000 $ 5,000,000 2. The commissioners reviewed the budget during the year and (a) revised the estimate of Intergovernmental Revenues to $1,500,000 and reduced the Public safety and Highways and streets appropriations by $225,000 each to partially compensate for the anticipated decline in intergovernmental revenues, and (b) increased the Health and sanitation appropriation by $70,000 because of costs incurred in connection with an unusual outbreak of Tasmanian flu. 3. Revenues (actual) for 20X8 were: Taxes $ 8,150,000 Licenses and permits 785,000 Intergovernmental 1,520,000 Charges for services 210,000 Fines and forfeits 395,000 Other 500,000 $11,560,000 4. Goods and services under purchase orders and contracts were received: Estimated Cost Actual Cost General government $ 280,000 $ 278,000 Public safety 900,000 910,000 Highways and streets 2,500,000 2,500,000 Health and sanitation 440,000 440,000 Culture and recreation 300,000 295,000 Other 180,000 181,000 $4,600,000 $4,604,000 The remaining orders are still outstanding. 5. Other expenditures incurred were: General government $ 700,000 Public safety 2,560,000 Highways and streets 2,271,000 Health and sanitation 485,000 Culture and recreation 45,000 4 nan III 2:27 tl 23% Aa QD P3-2 (Budgetary and Other Entries-General and Subsidiary Ledgers) The Murphy County Commissioners adopted the following Gen- eral Fund budget for the 20x8 fiscal year: Murphy County General Fund Budget-20X8 Estimated Revenues: Taxes $ 8,000,000 Licenses and permits 800,000 Intergovernmental 2,000,000 103 jij Reader Contents Notebook Bookmarks More II o 2:28 00S Jl 23% Aa Qa Tulure and recreation 43,00U Other 391,000 $6,452,000 Required 1. Set up general ledger T-accounts like those in Illustration 3-10 and also rev- enues and expenditures subsidiary ledgers like those in Illustrations 3-20 and 3-30 2. Record the Murphy County 20X8 General Fund budget in the general ledger and subsidiary ledger accounts, keying these entries B (for budget). Then record the numbered transactions and events, key- ing these entries by those numbers. 104 K Reader Contents Notebook Bookmarks More II o