General fund of the city of buffalo falls
The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2012:1. Beginning balances were: Cash, $150,000; Taxes Receivable, $200,000; Accounts Payable, $50,000; and Fund Balance, $300,000.2. The budget was passed. Estimated revenues amounted to $2,000,000 and appropriations totaled $1,980,000. All expenditures are classified as General Government.3. Property taxes were levied in the amount of $1,200,000. […]