|Posted: 23 Jul 2010 at 17:46 | IP Logged
Come again - I don't get what you don't understand??
If the initial budget is made at the beginning of the year w. an estimate of a positive fund balance...this would mean at year end the "Fund Balance Reserve" account would hold a normal credit balance; thus DEBIT this account to initially record the budget.
So - if appropriations (amt estimated to spend) exceeds estimated revenues initial recording of the budget would be as follows:
dr. Estimated Revenues $50
dr. Fund Balance Reserve $50
cr. Appropriations ($100)
Hope that helps!
AUD: 69,77(expired), 86!!!