Solved

The City of Snow's 2020 Annual Budget Included an Appropriation

Question 35

Multiple Choice

The City of Snow's 2020 annual budget included an appropriation of $65,000 for snow removal. By the end of January, the City had experienced 3 Nor'easters with total snow accumulation of 65 inches, equal to the amount anticipated for January and February. The City approves a budget revision to increase the appropriation for snow removal to $90,000 and reduce budgetary fund balance by an equal amount. The Waste Removal Department also receives invoices for and makes payments for January snow removal of $55,000. What was the effect on budgetary fund balance?


A) Budgetary fund balance was debited for $25,000
B) Budgetary fund balance was credited for $25,000
C) Budgetary fund balance was credited for $35,000
D) Budgetary fund balance was debited for $35,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents