_____ The Board of Commissioners of Vane City adopted its budget for the year ending 7/31/06, comprising estimated revenues of $30,000,000 and appropriations of $29,000,000. What entry should be made for the budgeted excess of revenues over appropriations?

Question

Quizplus · Accepted Answer

The correct entry for the budgeted excess of revenues over appropriations is to credit the Budgetary Fund Balance for $1,000,000. This reflects the anticipated surplus in the budget, where estimated revenues exceed appropriations.

_____ the Board of Commissioners of Vane City Adopted Its