New York State's general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions.
Use the "final" financial plan (budget) amounts when answering the questions below.
Assume New York State's general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries.
Required
a. Prepare the fiscal 2017 budget entry for the general fund.
b. Prepare the fiscal 2017 closing entries for the general fund.

Question

New York State's general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions.
  Use the "final" financial plan (budget) amounts when answering the questions below.
Assume New York State's general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries.
Required
a. Prepare the fiscal 2017 budget entry for the general fund.
b. Prepare the fiscal 2017 closing entries for the general fund.

Quizplus · Accepted Answer

The Answer of New York State's general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions.
  Use the "final" financial plan (budget) amounts when answering the questions below.
Assume New York State's general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries.
Required
a. Prepare the fiscal 2017 budget entry for the general fund.
b. Prepare the fiscal 2017 closing entries for the general fund.

New York State's General Fund Budget and Actual Information for Fiscal