The general fund of Battle Creek budgeted a transfer to its capital projects fund for $110,000 to be used in operations during the year ended June 20,20X9.On September 15,20X8,the general fund transferred $110,000 to the capital projects fund.What account should be debited in the general fund on September 15 to record this transfer?
A)Appropriations
B)Expenditures
C)Budgetary Fund Balance-Assigned For Encumbrances
D)Other Financing Uses-Transfer Out to Capital Projects Fund

Question

Quizplus · Accepted Answer

The transfer of $110,000 from the general fund to the capital projects fund represents an other financing use and should be recorded in the general fund as a debit to "Other Financing Uses - Transfer Out to Capital Projects Fund". Appropriations, expenditures, and budgetary fund balance are not relevant in this transaction.

The General Fund of Battle Creek Budgeted a Transfer to Its