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31 Jan 2019
What criteria are considered when identifying a businesstransaction? How are debits and credits used to record thesetransactions?
What criteria are considered when identifying a businesstransaction? How are debits and credits used to record thesetransactions?
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Tod ThielLv2
31 Jan 2019
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CITY OFSALEM | ||
Schedule of Revenues,Expenditures and Changes in Fund Balance - | ||
Budget and Actual: GeneralFund | ||
For The Year Ended December 31,2014 |
Budgeted
REVENUES | Original | Final | Actual Amounts Budgetary Basis | Variance with Final Budget |
Property Taxes | 14,666,000 | 14,666,000 | 15,361,830 | 695,830 |
Other Local Taxes | 11,562,500 | 11,562,500 | 11,761,522 | 199,022 |
Charges for Services | 1,613,011 | 1,613,011 | 1,601,435 | (11,576) |
Intergovernmental | 7,892,080 | 8,047,907 | 7,098,698 | (949,209) |
Miscellaneous | 1,504,977 | 1,388,385 | 1,262,549 | (125,836) |
TOTALREVENUES | 37,238,568 | 37,277,803 | 37,086,034 | (191,769) |
EXPENDITURES | ||||
Current | ||||
General Government | 3,567,838 | 3,489,870 | 3,353,502 | 136,368 |
JudicialAdministration | 1,321,048 | 1,497,845 | 1,456,734 | 41,111 |
Public Safety | 7,753,002 | 8,325,564 | 8,216,347 | 109,217 |
Public Works | 4,541,651 | 4,984,353 | 4,602,273 | 382,080 |
Health and Welfare | 4,823,267 | 4,440,167 | 4,418,294 | 21,873 |
Education | 8,963,248 | 8,929,725 | 8,887,834 | 41,891 |
Parks andRecreation | 2,983,861 | 3,097,528 | 3,055,325 | 42,203 |
CommunityDevelopment | 872,594 | 904,168 | 899,209 | 4,959 |
TOTALEXPENDITURES | 34,826,509 | 35,669,220 | 34,889,518 | 779,702 |
REVENUES OVER (UNDER) EXPENDITURES | 2,412,059 | 1,608,583 | 2,196,516 | (971,471) |
OTHER FINANCING SOURCES (USES): | ||||
Transfers (to)other funds | (3,560,000) | (3,257,000) | (3,256,899) | 101 |
(3,560,000) | (3,257,000) | (3,256,899) | 101 | |
Excess of revenues and othersources over | ||||
(under)expenditures and other uses | (1,147,941) | (1,648,417) | (1,060,383) | 588,034 |
FUND BALANCE - Beginning of Year | 12,338,963 | 12,338,963 | 12,338,963 | - |
FUND BALANCE - End of Year | 11,191,022 | 10,690,546 | 11,278,580 | 588,034 |
General Ledger | Subsidiary Ledger | |||
a. Record the originalbudget | Debits | Credits | Debits | Credits |
General Ledger | Subsidiary Ledger | |||
b. Record the budgetrevisions | Debits | Credits | Debits | Credits |
General Ledger | Subsidiary Ledger | |||
c. Record the ActualRevenues | Debits | Credits | Debits | Credits |
General Ledger | Subsidiary Ledger | |||
d. Record theencumbrances | Debits | Credits | Debits | Credits |
General Ledger | Subsidiary Ledger | |||
e. Record the actualexpenditures and Encumbrance Reversals | Debits | Credits | Debits | Credits |