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Below is the preclosing trial balance of Chesterfield County's general fund at year-end, before adjustments and closing entries: Cash Property taxes receivable Due from other funds Estimated revenues Expenditures Capital outlay Debt service: Principal Debt service: Interest Transfers out Dr $ 45,000 180,000 25,000 2,300,000 1,963,000 120,000 50,000 140,000 29,000 Cr

Below is the preclosing trial balance of Chesterfield County's general fund at year-end, before adjustments and closing entries: Cash Property taxes receivable Due from other funds Estimated revenues Expenditures Capital outlay Debt service: Principal Debt service: Interest Transfers out Dr $ 45,000 180,000 25,000 2,300,000 1,963,000 120,000 50,000 140,000 29,000 Cr

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below is the preclosing trial balance of Chesterfield County's general fund at year-end, before adjustments and closing entries: Cash Property taxes receivable Due from other funds Estimated revenues Expenditures Capital outlay Debt service: Principal Debt service: Interest Transfers out Allowance for uncollectible property taxes Accounts payable Due to other funds Appropriations Estimated other financing uses Property tax revenues Budgetary fund balance---unassigned Fund balance-unassigned Dr $ 45,000 180,000 25,000 2,300,000 1,963,000 120,000 50,000 140,000 29,000 5,000 $4,857,000 Cr $ 150,000 45,000 22,000 2,275,000 30,000 2,295,000 40,000 $4,857,000 Assume that Chesterfield County does not establish the debt service fund separately. What is the year-end balance in fund balance-unassigned?
Transcribed Image Text:Below is the preclosing trial balance of Chesterfield County's general fund at year-end, before adjustments and closing entries: Cash Property taxes receivable Due from other funds Estimated revenues Expenditures Capital outlay Debt service: Principal Debt service: Interest Transfers out Allowance for uncollectible property taxes Accounts payable Due to other funds Appropriations Estimated other financing uses Property tax revenues Budgetary fund balance---unassigned Fund balance-unassigned Dr $ 45,000 180,000 25,000 2,300,000 1,963,000 120,000 50,000 140,000 29,000 5,000 $4,857,000 Cr $ 150,000 45,000 22,000 2,275,000 30,000 2,295,000 40,000 $4,857,000 Assume that Chesterfield County does not establish the debt service fund separately. What is the year-end balance in fund balance-unassigned?
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