A1 Below is the preclosing trial balance of Chesterfield County's general fund at year-end, before adjustments and closing entries:CashProperty taxes receivableDue from other fundsEstimated revenuesExpendituresCapital outlayDebt service: PrincipalDebt service: InterestTransfers outAllowance for uncollectible property taxesAccounts payableDue to other fundsAppropriationsEstimated other financing usesProperty tax revenuesBudgetary fund balance---unassignedFund balance-unassignedDr$ 45,000180,00025,0002,300,0001,963,000120,00050,000140,00029,0005,000$4,857,000Cr$ 150,00045,00022,0002,275,00030,0002,295,00040,000$4,857,000Assume that Chesterfield County does not establish the debt service fund separately.What is the year-end balance in fund balance-unassigned?

It is the total amount accumulated or deficit incurred from operating surpluses from the beginning…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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