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Homework answers / question archive / The board of commissioners of the city of Shell adopted a General Fund budget for the year ending June 30, 2013, which indicated revenues of $1,300,000, bond proceeds of $520,000, appropriations of $1,170,000, and operating transfers out of $390,000
The board of commissioners of the city of Shell adopted a General Fund budget for the year ending June 30, 2013, which indicated revenues of $1,300,000, bond proceeds of $520,000, appropriations of $1,170,000, and operating transfers out of $390,000. Please record the transaction in the fund financial statement.
-Answer :-
The transaction in the fund financial statement are as follows :-
| Account Titles | Debit | Credit |
| Estimated Revenue Control | $ 1,300,000 | |
| Estimated Other financing Sources - Bond Proceeds | $520,000 | |
| Appropriation Control | $1,170,000 | |
| Appropriation - Operations transfer out | $ 390,000 | |
| Budgetary fund balance | $ 260,000 |
