Problem on the budgetary accounting

Assignment Help Accounting Basics

Reference no: EM131779846

Problem: (Budgetary accounting)

Sleepy Hollorv's General Fund budget for fiscal 2013 is based on the following estimated revenues and appropriations. Is Sleepy Hollow projecting a budgetary surplus or a deficit for 2013? Prepare the journal entry to record the 2013 budget.

Estimated Revenue	Appropriations
Property taxes $2,000,000	Administration $425,000
Sales taxes 720,000	Public safety 1,500,000
Llcenses and permits 120,000	Streets 630,000
Fines and forferts 8,500	Parks and recreation 367,000

Reference no: EM131779846

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