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Question: Prepare budgetary entries, using general ledger accounts only, for each of the following unrelated situations:

a. Anticipated revenues are $10 million; anticipated expenditures and encumbrances are $9.8 million.

b. Anticipated revenues are $9.8 million; anticipated expenditures and encumbrances are $10 million.

c. Anticipated revenues are $10 million; anticipated transfers from other funds are $1.3 million; anticipated expenditures and encumbrances are $9.8 million; anticipated transfers to other funds are $1.2 million.

d. Anticipated revenues are $9.8 million; anticipated transfers from other funds are $1.2 million; anticipated expenditures and encumbrances are $10 million; anticipated transfers to other funds are $1.3 million.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92334269

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