Question

Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).)

1. Anticipated revenues are $14.2 million; anticipated expenditures and encumbrances are $8.9 million.
2. Anticipated revenues are $8.9 million; anticipated expenditures and encumbrances are $9.4 million.
3. Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.4 million; anticipated expenditures and encumbrances are $8.9 million; anticipated transfers to other funds are $1.0 million.
4. Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.5 million; anticipated expenditures and encumbrances are $9.8 million; anticipated transfers to other funds are $2.0 million.

Answer 1

No.	Account titles and explanation	Debit	Credit
a.	Estimated Revenue Control	14200000
	Appropriation Control		8900000
	Budgetary Fund		5300000
b.	Estimated Revenue Control	8900000
	Budgetary Fund	500000
	Appropriation Control		9400000
c	Estimated Revenue Control	9400000
	Estimated other financing source control	1400000
	Appropriation Control		8900000
	Estimated other financing uses control		1000000
	Budgetary Fund		900000
d	Estimated Revenue Control	9400000
	Estimated other financing source control	1500000
	Budgetary Fund	900000
	Appropriation Control		9800000
	Estimated other financing uses control		2000000