The final budget areidentical.

Assignment Help Accounting Basics
Reference no: EM13869315

The commissioners of the Regents Park Commission Special Revenue Fund approved the following budget for calendar year 2012. Assume that the Unassigned fund balance at the beginning of the year was $ 10,000. Also, assume that no encumbrances were outstanding and no supplies were on hand at the beginning or the end of the year. Prepare a statement of revenues, expenditures, and changes in fund balance. In addition prepare a budgetary comparison schedule, assuming the ori-ginally approved budget and the final budget areidentical.

1661_374-B-A-N-P-O (291).png

Reference no: EM13869315

Questions Cloud

Find the profit maximizing levels of capital and labor : A price taking firm chooses its inputs to maximize long-run profits. Labor and capital are substitutes in production and both exhibit decreasing returns to scale, q(L, K) = L^(1/2) + K^(1/2) . The output price is 100 and the price of each of the inpu..
The appropriation other program costs covers vacation : The appropriation Other program costs covers vacation pay pension and retiree health care benefits and all other program expenditures The city uses the purchases method to record the acquisition of supplies. The year end supplies inventory is consi..
The assigned fund balance at the beginning : The Assigned fund balance at the beginning of the year represented outstanding encumbrances that were allowed to lapse at year end The purchase orders that had been encumbered will be honored and charged against 2013 appropriations.
A property owner is withholding payment of property taxes : A property owner is withholding payment of property taxes pending appeal of the assessed valuation of the property for the current year. The city attorney believes the appeal will be denied. However the appeal action means that property taxes that..
The final budget areidentical. : Prepare a statement of revenues, expenditures, and changes in fund balance. In addition prepare a budgetary comparison schedule, assuming the ori-ginally approved budget and the final budget areidentical.
A city general fund received cash : A city General Fund received cash from the following sources during fiscal year 2012. All the receipts were credited to revenue accounts. Identify the incorrect credits (some may be correct) and make journal entries to correct them.
The general fund makes a short-term loan : The General Fund makes a short-term loan of $75,000 to a Special Revenue Fund The General Fund sends $100,000 cash to the Debt Service Fund so the latter fund can pay the debt service on general obligation bonds.
Which of the following sets of accounts is the general fund : Which of the following sets of accounts is the General Fund likely to have? Which of the following transactions results in reporting a transfer out in the General Fund statement of revenues, expenditures and changes in fund balance?
A county health clinic for medical malpractice : A claim for $ 100,000 was filed against a county health clinic for medical malpractice in March 2012. The case is scheduled to go to trial in January 2013. County attorneys believe it is probable the county will lose the case if it goes to trial a..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Information technology that require large capital outlays

How may financial managers budget for unforeseen changes and improveme. How may financial managers budget for unforeseen changes and improvements in information technology that require large capital outlays?

  Compute the earnings per share

Compute the earnings per share and book value per share of common stock - calculate the price-earnings ratio for each company.

  Bob can afford monthly car payments of 200 for four years

bob can afford monthly car payments of 200 for four years. what is the most expensive car bob can buy if the

  Make an argument for or against the employ of either the

create an argument for or against the use of either the rolling budget or the continuous budget on the planning process

  Section1 which of the following is ordinarily considered an

section1. which of the following is ordinarily considered an extended procedure in external auditors independent audits

  The simple rate of return method explicitly takes

true of false questions1. the simple rate of return method explicitly takes depreciation into account.2. the payback

  The city of jamestown has agreed to acquire a new

the city of jamestown has agreed to acquire a new citymaintenance building under a capital lease agreement. at

  Discuss the contributions that can be made by the

in 2007 nike settled a class action lawsuit filed on behalf of 400 african american employees of the companys niketown

  Bonds to maturity problem

A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:

  Buidling an income statement tyler inc has sales of 753000

coporate finance bookbuidling an income statement tyler inc. has sales of 753000 costs of 308000 depreciation expense

  Compute the increase or decrease in net income

Compute the increase or decrease in net income Mann will realize by accepting the special order, assuming Mann has sufficient excess operating capacity. Should Mann Company accept the special order?

  Nulymade inc computed an overhead rate for machining costs

nulymade inc. computed an overhead rate for machining costsof 10 per machine hour. machining costs are driven by

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd