Author Question: In Electronic Data Interchange (EDI), the software that includes the purchasing system at the origin ... (Read 62 times)

drink · **on:** Jul 5, 2018

In Electronic Data Interchange (EDI), the software that includes the purchasing system at the origin and the order entry system at the destination is known as
a. translation software
b. value-added network (VAN)
c. the communications network
d. application software

Question 2

(Recording the budget and a budget revision

)

The council of the Town of Tulia approved the 2013 budget as follows:

Budgeted 2013 revenues from:
Property taxes 5,000,000
Sales taxes 1,000,000
Appropriations for 2013:
Salaries 4,600,000
Materials 1,200,000
Equipment 100,000

During 2013, the town's mayor presented the council with a budget revision to increase the amount of appropriation for salaries by 10,000 . The council approved this budget revision.

Required:
a. Prepare the general journal entry necessary to initially record the budget.
b. Prepare the general journal entry necessary to record the budget revision.

jomama · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

D

Answer to Question 2

a. Estimated revenuesproperty taxes 5,000,000
Estimated revenuessales taxes 1,000,000
Appropriationssalar ies 4,600,000
Appropriationsmater ials 1,200,000
Appropriationsequip ment 100,000
Budgetary fund balance 100,000

b. Budgetary fund balance 10,000
Appropriationssalar ies 10,000