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A Governmental Entity Has a General Fund and an Enterprise

Question 29

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A governmental entity has a General Fund and an Enterprise Fund.At the beginning of the year,neither fund has any unpaid salary liability.During the year,both funds paid salaries of $600,000.In addition,salaries for the last three days of the fiscal year ($15,000 for each fund)will be paid during the first week of the next fiscal year.How much should each fund report as salary expenditures (expenses)for the fiscal year? A governmental entity has a General Fund and an Enterprise Fund.At the beginning of the year,neither fund has any unpaid salary liability.During the year,both funds paid salaries of $600,000.In addition,salaries for the last three days of the fiscal year ($15,000 for each fund)will be paid during the first week of the next fiscal year.How much should each fund report as salary expenditures (expenses)for the fiscal year?

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