Business, 09.07.2020 05:01 talia43

Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in whole dollars not in millions (i. e., 1,000,000 not 1.0).) Anticipated revenues are $11.8 million; anticipated expenditures and encumbrances are $8.0 million. Anticipated revenues are $8.0 million; anticipated expenditures and encumbrances are $9.4 million. Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.6 million; anticipated expenditures and encumbrances are $8.0 million; anticipated transfers to other funds are $0.7 million. Anticipated revenues are $8.6 million; anticipated transfers from other funds are $1.1 million; anticipated expenditures and encumbrances are $9.7 million; anticipated transfers to other funds are $1.0 million.

Answers: 2

Show answers

Answers

Answer from: angelina12386

Please see answer in explanatory column

Explanation:

Journal for Budgetary entries

a) Anticipated revenues are $11.8 million; anticipated expenditures and encumbrances are $8.0 million

Account Debit Credit

Estimated Revenue control $11,800,000

Appropriation control $8,000,000

Budgetary fund $3,800,000

Calculation

Budgetary fund = Estimated Revenue control $11,800,000-

Appropriation control $8,000,000 = $3,800,000

b)Anticipated revenues are $8.0 million; anticipated expenditures and encumbrances are $9.4 million.

Account Debit Credit

Estimated Revenue control $8,000,000

Budgetary fund $1,400,000

Appropriation control $9,400,000

Budgetary fund = Estimated Revenue control $8,000,000-

Appropriation control $9,400,000 = -$1,400,000 , therefore will be debited

c)Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.6 million; anticipated expenditures and encumbrances are $8.0 million; anticipated transfers to other funds are $0.7 million

Account Debit Credit

Estimated Revenue control $9,400,000

Estimated other finance source control$1,600,000

Appropraition control $8,000,000

Estimated other finance source control $700,000

Budgetary fund $2,300,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control= $9,400,000 +$1,600,000)- $8,000,000 + 700,000 ) = 11,000,000 - $8,700,000 =$2,300,000

d)Anticipated revenues are $8.6 million; anticipated transfers from other funds are $1.1 million; anticipated expenditures and encumbrances are $9.7 million; anticipated transfers to other funds are $1.0 million.

Account Debit Credit

Estimated Revenue control $8,600,000

Estimated other finance source control$1,100,000

Budgetary fund $1,000,000

Appropraition control $9,700,000

Estimated other finance source control $1,000,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control= $8,600,000 +$1,100,000)- $9,700,000 + 1,000,000 ) = 9,700,000 - $10,700,000 =-$1,000,000 so will be debited

Answer from: Quest

mauve company permits employees to occasionally use the copying machine for personal purposes

Answer from: Quest

answer; ///after donning a gown, mask and eyewear;

Another question on Business

Business, 21.06.2019 22:40

In allentown, pennsylvania, in the summer of 2014, the average price of a gallon of gasoline was $3.68long dasha 22-cent increase from the year before. many consumers were upset by the increase. one was quoted in a local newspaper as saying, "it's crazy. the government should step in." source: sam kennedy, "valley feeling pain at the pump," (allentown, pa) morning call, june 21, 2014. suppose the government had stepped in and imposed a price ceiling equal to old price of $3.46 per gallon. a. using the line drawing tool, draw and label the price ceiling. carefully follow the instructions above, and only draw the required object.

Answers: 3

Answer

Business, 22.06.2019 04:50

Allie and sarah decided that they want to purchase renters insurance for the apartment they share. they made a list of all of the items to be covered by the insurance policy, along with their estimated values. if the items to be covered total more than $3000, the insurance company charges an annual premium of 23% of the total value of the items. if the items to be covered total $3000 or less, the insurance company charges an annual premium of 20% of the total value of the items.

Answers: 1

Answer

Business, 22.06.2019 17:10

Calculate riverside’s financial ratios for 2014. assume that riverside had $1,000,000 in lease payments and $1,400,000 in debt principal repayments in 2014. (hint: use the book discussion to identify the applicable ratios.)

Answers: 3

Answer

Business, 22.06.2019 22:00

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60

Answers: 3

Answer

You know the right answer?

Prepare budgetary entries, using general ledger control accounts only, for each of the following unr...

Questions