The following information is provided by the town of york's general fund operating statement and budgetary accounts for the fiscal year ened september 30, 2016. (note: the town has no restricted, commited, or assigned fund balances.)
estimated revenues-32,150,000
revenues - 32,190,000
apporations - 32,175,000
expenditures - 32,185,000
fund balance - unassigned septtember 30,2015 - 500,000
a. prepare a journal entry to record the budget
b. did the town of york engage in imprudent budgeting practice by authorizing a greater amount of expenditures than revenues estimated for the year, or potentially violate town or state balanced-budget laws.
c. calculate the end of year balance for the fund balance- unassigned that would be reported on the town's balance sheet prepared as of september 30,2016. show all work necessary work.