GNP 2 2023 Business Finance
2023 Part 1 Research the following statements and write a paper of 500 words on your
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 for each of the above terms.
Part 2: Given the following information, create the journal entries required for each of the situations described:
Property taxes $1,250,000
Fines and forfeits 80,000
Public safety 800,000
Total $ 1,150,000
1. Make the journal entry to record the adoption of the annual budget.
2. Make the journal entries necessary to record the following cash revenues that were received:
Property taxes $800,000
Fines and forfeits 73,000
3. Purchase orders were issued for the following goods and services:
Public safety 670,000
Total $ 1,005,000
4. Purchase orders were fulfilled based upon the following estimated and actual costs:
General $285,000 $280,000
Streets 50,000 50,000
Public safety 670,000 660,000
Total $ 1,005,000 $ 990,000
We give our students 100% satisfaction for their assignment, which is one of the most important reasons students prefer us from other helpers. Our professional group and planners have more than ten years of rich experience. The only reason that our inception days, we have helped more than 100000 students with their assignments successfully. Our expert’s group have more than 2200 professionals of different topics, and that not all; we get more than 300 jobs every day more than 90% of the assignment get the conversion for payment.