UNIT 2 IP
Part 1: Research the following statements and write a paper of 500 words on your findings:
What are the key differences between a governmental unit and a commercial company?
Discuss the following terms and how they are used during the budget process of a governmental unit:
Budgetary fund balances
Give examples of each of the above terms.
Part 2: Gien the following information, create the journa entries required for each of the situations described:
|Fines and foreits||80,000|
Make the journal entry to record the adoption of the annual budget.
Make the journal entries necessary to record the following cash revenues that were received:
|Fines and forfeits||73,000|
Purchase orders were issued for the following goods and services:
Purchase orders were fulfilled based upon the following estimated and actual costs:
Place an Order