Unformatted text preview: Expenditures 3,600 Vouchers Payable 3,600 Acquire inventory of supplies. (2) Entries at end of 20X2 fiscal year: September 30, 20X2 Inventory of Supplies 2,800 Fund Balance – Reserved for Inventories 2,800 Recognize ending inventory of supplies. Fund Balance – Unreserved 3,600 Expenditures 3,600 Close expenditures account. (3) Entries at end of 20X3 fiscal year: September 30, 20X3 Fund Balance – Reserved for Inventories 2,800 Inventory of Supplies 2,800 Remove fund balance reserve for inventories consumed....
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- Fall '11
- Fiscal Year, Generally Accepted Accounting Principles, fund balance, general fund accounting