Author Question: Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ... (Read 121 times)

Garrulous · **on:** Jul 6, 2018

Accounts whose balances apply to one fiscal period only are called permanent accounts.
Indicate whether the statement is true or false

Question 2

During the year, Nathan Township amended its General Fund budget to reflect an increase in appropriations of 50,000 to be financed by an appropriation of existing fund balance.

What would the necessary budgetary entry be to reflect this amendment?

dr cr

a. Appropriations 50,000Revenues 50,000
b. Appropriations 50,000Unreserved Fund Balance 50,000
c. Revenues 50,000Appropriations 50,000
d. Unreserved Fund Balance 50,000
Appropriations 50,000

dantucker · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

F

Answer to Question 2

A

Garrulous · **Reply #2 on:** Jul 6, 2018

Thank you

dantucker · **Reply #3 on:** Jul 6, 2018

Happy to help you

Author Question: Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ... (Read 121 times)

Garrulous

Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ...

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dantucker

Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ...

Garrulous

Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ...

dantucker

Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ...