Ridge Township’s governing body adopted its general fund budget for the year ended July 31, 2005, comprised of Estimated Revenues of $100,000 and Appropriations of $80,000. Ridge formally integrates its budget into the accounting records.
To record the appropriations of $80,000, Ridge should
Credit Appropriations Control.
Debit Appropriations Control.
Credit Estimated Expenditures Control.
Debit Estimated Expenditures Control.
To record the $20,000 budgeted excess of estimated revenues over appropriations, Ridge should
Credit Estimated Excess Revenues Control.
Debit Estimated Excess Revenues Control.
Credit Budgetary Fund Balance.
Debit Budgetary Fund Balance.
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