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New York State's General Fund Budget and Actual Information for Fiscal

Question 8

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New York State's general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions.
New York State's general fund budget and actual information for fiscal 2017 appear below. All dollar amounts are in millions.    Use the  final  financial plan (budget) amounts when answering the questions below. Assume New York State's general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries. Required a. Prepare the fiscal 2017 budget entry for the general fund. b. Prepare the fiscal 2017 closing entries for the general fund. Use the "final" financial plan (budget) amounts when answering the questions below.
Assume New York State's general fund separates its other financing sources (uses) into sources and uses when preparing its budget and closing entries.
Required
a. Prepare the fiscal 2017 budget entry for the general fund.
b. Prepare the fiscal 2017 closing entries for the general fund.

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