(Solution Download) The printout of the Revenues and Appropriations subsidiary ledger accounts


The printout of the Revenues and Appropriations subsidiary ledger accounts for the General Fund of the City of Augusta as of March 31, 2017, appeared as follows:

Required
Assuming that this printout is correct in all details and that there are no other General Fund revenue or expenditure transactions, answer the following questions. Show all necessary computations in good form.
a. What were the original approved budget amounts for Estimated Revenues and for Appropriations?
b. (1) Was the Estimated Revenues budget adjusted during the year?
(2) If so, by how much?
(3) If so, was the original budget increased or decreased?
c. (1) What are the current balances of the Estimated Revenues and Appropriations control accounts?
(2) What are the current balances of the Revenues and Expenditures control accounts?
(3) What do these balances indicate?

 







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