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SashulF [63]
2 years ago
6

The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in t

he amount of $8,721,000. During the month of July 2020, the following transactions occurred (in summary):
a, Purchase orders were issued in the amount of $563,000.
b. Of the $563,000 in purchase orders, $511,000 were filled, with invoices amounting to $501,000.
c. Salaries, not encumbered, amounted to $317,000.
d. A budget appropriations reduction in the amount of $60,000 was approved by the city council.

Required:
Prepare an appropriations, expenditures, and encumbrances ledger for the police department for the month of July. (Credit amounts should be indicated by a minus sign.)
Business
1 answer:
Contact [7]2 years ago
3 0

Answer:

Appropriation ($) balance = – $8,661,000

Encumbrance balance = $52,000

Expenditure balance = $818,000

Unexpended Appropriation Balance = – $7,791,000

Explanation:

Note: See the attached excel file for the appropriations, expenditures, and encumbrances ledger for the police department for the month of July.

Also note: In the excel file, the last balance in  column for the Unexpended Appropriation Balance is the balance obtained in the Transaction e row since the balance in the row is cumulative.

Download xlsx
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A company must decide between scrapping or reworking units that do not pass inspection. The company has 13,000 defective units t
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Hello. You forgot to provide the answer options. The options are:

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The GDP deflator for this year is calculated by dividing the  value of all goods and services produced in the economy this year using this years prices by the value of all foods and services produced in the economy this year using the base year's prices and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by consumers.

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The GDP deflator for this year is calculated by dividing the  value of all goods and services produced in the economy this year using this years prices by the value of all foods and services produced in the economy this year using the base year's prices and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by consumers.

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