Answer to Question #182394 in Accounting for Milan

Question

Debit Estimated Revenue Control

Debit Budgetary Control

Credit Appropriations Control

• What does this journal entry mean?

Debit Estimated Revenue Control

Credit Appropriations Control

Credit Budgetary Control

• What does this journal entry mean?

Debit Encumbrance

Credit Budgetary Control

• What does this journal entry mean?

Debit Budgetary Control

Credit Encumbrance

• What does this journal entry mean?

Debit Appropriations

Debit Budgetary Control

Credit Estimated Revenues

• What does this journal entry mean?

What account is an Encumbrance?

What account is Budgetary Control?

What account is Appropriations?

What account is an Estimated Revenue Control?

Answer 1

• The estimated revenues control account of a governmental unit is debited when the budget is recored, Return of estimated revenue to the appropriations account
• The estimated revenues control account of a governmental unit is debited when the budget is recored, Return of estimated revenue to the appropriations account
• Removal of any encumbrance on the acquired assets, ensuring obligations to creditors
• any Encumbrance on the Purchased Assets securing obligations to the lenders
• Receipt of estimated revenue from the appropriations account

Account is an Encumbrance is used in accounting to refer to restricted funds inside an account that are reserved for a specific liability.

Account is Budgetary Control this is the expense of using and controlling the budget

Account is Appropriations is an account for distributing the company's funds to partners, shareholders, and departments

Account is an Estimated Revenue Control this is the revenue control account of a government division