A countys general fund has the following results for fiscal 2020: ...
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Accounting
- A countys general fund has the following results for fiscal 2020:
|
| Budget | Actual |
| Revenues | $ 405,000 | $ 400,000 |
| Expenditures | 380,000 | 375,000 |
| Other financing uses | 30,000 | 28,000 |
The general funds balance in fund balanceunassigned before the budget entry was $26,000. Assume actual transactions are either cash paid or cash received.
Prepare:
- The budgetary entry
- The actual (condensed) entries
- The closing entries at fiscal year-end.
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