Journal entries, budgetary comparison schedule. A summary of the general fund transactions for the city of Toma for the year ended December 31, 2019, is as follows: a. A budget was approved, showing...

Journal entries, budgetary comparison schedule. A summary of the general fund transactions for the city of Toma for the year ended December 31, 2019, is as follows:

a. A budget was approved, showing estimated revenues of $900,000, appropriations of $875,000, transfers-in of $27,000 from other funds, and required transfers of $20,000 to other funds.

b. The reserve for encumbrance at the end of 2018 was $15,000. Amounts encumbered in the prior period are included in appropriations for 2019.