Unformatted text preview: 10,000 Revenue – Property Taxes 600,000 Deferred Revenue (reported as a liability on the general fund balance sheet) 90,000 [Note: The estimated uncollectibles are on the property taxes reported as deferred revenue.] 6. a Upon receipt of the order, Oak would record the following entries: BUDGETARY FUND BALANCE – RESERVED FOR ENCUMBRANCES 5,000 ENCUMBRANCES CONTROL 5,000 Expenditures Control 4,950 Vouchers Payable 4,950 7. a Johnson would record the following entry: ESTIMATED REVENUES CONTROL 9,000,000 ESTIMATED OTHER FINANCING SOURCE – TRANSFER IN (Internal Service) 1,000,000 ESTIMATED OTHER FINANCING SOURCE – TRANSFER IN (Debt Service) 500,000 APPROPRIATIONS CONTROL XXXXXX BUDGETARY FUND BALANCE – UNRESERVED XXX 8. c 9. a 10. b...
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.
- Fall '11