The following is the general budget for earmarked funds and its adjustments during the 2020 financial period: 1) The total estimated revenues within the general budget for funds allocated for the year...


The following is the general budget for earmarked funds and its adjustments during the 2020 financial period:


1) The total estimated revenues within the general budget for funds allocated for the year 2020 amounted to (3) million dinars, of which 2595 thousand dinars for public services.


2) In addition to the above, the estimated revenues of public parking, which amount to 336 thousand dinars, have been allocated to cover public safety expenses of 300 thousand dinars.


3) Reducing income tax revenues by 120,000 dinars and travel allowances by 90,000 dinars, provided that the difference is covered from the fund's balance account.


4) Frost occurred in the Jordan Valley that affected the agricultural crop, and it was decided to compensate farmers for 70,000 dinars within the general budget appendix prepared for this purpose. This compensation is covered from the money balance account.


Required: To record the general budget entries in the general appropriated funds journal.



Jun 09, 2022
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