Author Question: Which of the following budgetary entries would the town of Geneva make upon adoption of its Special ... (Read 54 times)

lb_gilbert · **on:** Jul 5, 2018

Which of the following budgetary entries would the town of Geneva make upon adoption of its Special Revenue Fund Budget for the year? Assume the following:

Estimated Revenues 6,400,000
Appropriations 6,080,000

Debit Credit

A. Appropriations
Budgetary Fund Balance
Estimated Revenues 6,080,000
320,000

6,400,000
B. Estimated Revenues
Appropriations
Budgetary Fund Balance 6,400,000
6,080,000
320,000
C. Expenditures
Budgetary Fund Balance
Revenues 6,080,000
320,000

6,400,000
D. Appropriations
Estimated Revenues 6,400,000
6,400,000

Question 2

Revenues are equal to the difference between cash receipts and cash payments.
a. True
b. False

Indicate whether the statement is true or false