The Murphy County Commissioners adopted the following

General Fund budget

The Murphy County Commissioners adopted the following General Fund budget for the 20X8
fiscal year:Murphy CountyGeneral FundBudget—20X8Estimated Revenues: Taxes . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,000,000Licenses and Permits . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . 800,000Intergovernmental . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,000,000Charges for Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,000Fines and
Forfeits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000Other . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . 600,000 12,000,000Appropriations: General Government . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000Public Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . 4,000,000Highways and Streets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5,000,000Health and Sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000Culture and
Recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 Other . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . 600,000 11,900,000Excess of Estimated Revenues over
Appropriations . . . . . . . . 100,000Fund Balance—Beginning . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,400,000Fund Balance—Ending (Anticipated) . . . . . . . . . . . . . . . . . . $ 1,500,000The following
events occurred during 20X8:1. Purchase orders issued and contracts let were expected to
cost:General Government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 300,000Public Safety . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200,000Highways and Streets . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 2,500,000Health and Sanitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 500,000Culture and Recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000Other . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,0002. The commissioners reviewed the
budget during the year and (a) revised the estimate of Intergovernmental Revenues to
$1,500,000 and reduced the Public Safety and Highways and Streets appropriations by
$225,000 each to partially compensate for the anticipated decline in intergovernmental
revenues, and (b) increased the Health and Sanitation appropriation by $70,000 because of
costs incurred in connection with an unusual outbreak of Tasmanian flu.3. Revenues (actual) for
20X8 wereTaxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,150,000Licenses and
Permits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 785,000Intergovernmental . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . 1,520,000Charges for Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
210,000Fines and Forfeits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 395,000Other . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 $ 11,560,0004. Goods and services under
purchase orders and contracts were received:The remaining orders are still outstanding.5.
Other expenditures incurred wereGeneral Government . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
700,000Public Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,560,000Highways and
Streets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,271,000Health and Sanitation . . . . . . . . . . . . . . . . .
. . . . . . . . . . . 485,000Culture and Recreation . . . . . . . . . . . . . . . . . . . . . . . . . . 45,000Other . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 391,000 $6,452,000Required 1. Set up
general ledger T-accounts and also revenues and expenditures subsidiary ledgers like those in
Illustrations 4-3 and 4-4.2. Record the Murphy County 20X8 General Fund budget in the general
ledger and subsidiary ledger accounts, keying these entries “B” (for budget). Then record the
numbered transactions and events, keying these entries by thosenumbers. View Solution: The
Murphy County Commissioners adopted the following General Fund budget
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