Budgetary comparison schedules are affected by perspective differences. A perspective difference is a difference between the GAAP fund structure and the fund structure in the legally adopted budget. If a government has significant budgetary perspective differences, it:

a. Must restate the legally adopted budget to the basis of accounting required by GAAP.
b. May elect to omit the schedules.
c. Must use a format for the schedules based on the structure in the legally adopted budget.
d. Must report budgetary comparisons in a statement as part of the basic financial statements.

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i.e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000