Assuming there is a budget surplus,which of the following accounts are credited when the general fund records its operating budget at the beginning of the year?
A)Appropriations Control and Budgetary Fund Balance-Unreserved.
B)Estimated Revenues Control and Estimated Residual Equity Transfer Out.
C)Budgetary Fund Balance-Reserved For Encumbrances and Expenditures.
D)Estimated Residual Equity Transfer Out and Estimated Transfer In.

Question

Quizplus · Accepted Answer

When recording the operating budget with a budget surplus, the Appropriations Control account is credited to reflect the planned spending, and the Budgetary Fund Balance-Unreserved is credited to show the surplus.

Assuming There Is a Budget Surplus,which of the Following Accounts