The following information is provided about the Town of York’s General Fund operating statement and. 1 answer below »

The following information is provided about the Town of York’s General Fund operating statement and budgetary accounts for the fiscal year ended September 30, 2016. Estimated revenues……………………………………………….. $32,150,000 Revenues …………………………………………………………. 32,190,000 Appropriations…………………………………………………….. 32,175,000 Expenditures……………………………………………………….. 32,185,000 Fund Balance-Unassigned September 30, 2015………………….. 500,000 Required a. Prepare the journal entry to record the budget. b. Did the Town of York engage in imprudent budgeting practice by authorizing a greater amount of expenditures than revenues estimated for the year, or potentially violate town or state balanced-budget laws? c. Calculate the end-of-year balance for the Fund Balance-Unassigned that would be reported on the town’s balance sheet prepared as of September 30, 2016. Show all necessary work. View Solution:
The following information is provided about the Town of York s

 

Looking for a Similar Assignment? Hire our Top Uk Tutors while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15