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33) The general fund of Caldwell had the following operating budget for the fiscal year...

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Question

Accounting

33) The general fund of Caldwell had the following operating budget for the fiscal year beginning July 1, 20X9:

Estimated Revenues

$

5,100,000

Appropriations

4,200,000

Budgeted Transfer In from Debt Service Fund

200,000

Budgeted Transfer Out to Capital Projects Fund

500,000

When the general fund records its operating budget on July 1, 20X9, Budgetary Fund BalanceUnassigned should be

A) credited for $600,000.

B) debited for $900,000.

C) debited for $600,000.

D) credited for $900,000.

Answer: A

Please explain using math steps

Answer & Explanation Solved by verified expert
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