Check my workThe finance director for the City of Green Falls printed the General Fund Revenues and Appropriations Ledgers shown below for theyear just ended.REVENUES LEDGERRef.Account DescriptionEst. RevenuesDr(Cr)RevenuesBalanceCr(Dr)Dr(Cr)Estimated Revenues-Taxes-Real Property102Budget Authorization6,452,4006,452,400103Accrued Revenue104Previous Deferral109Deferral6,455,000345,000(308,000)(2,600)(347,600)(39,600)110Budget Amendment111Closing entry40,000(6,492,400)400(6,492,000)112Closing entry(6,492,000)Estimated Revenues-Taxes-Sales102Budget Authorization.103Received in Cash110Budget Amendment111Closing Entry112Closing Entry736,250(25,000)(711,250)710,600736,25025,650650(710,600)(710,600)eQ Search< Prev6 of 9Next >་PREa1<2/

Analysis of the General Fund Revenues Ledger for the City of Green Falls The ledger summarizes…

Answered: Check my work The finance director for…

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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From the following information, you are required to prepare statement of revenues, expenditure and changes in fund balances, other financial sources and statement of net assets Revenue department levied taxes and collected RO 665000 out of which RO 165000 has been outstanding Department of ministry of commerce has issued 33000 bonds of RO 10 each at a discount of RO 2 per bond which is restricted for purpose of construction of Bus station The same has been spent by the department for construction bus station and total amount of RO 330000 has been paid The service department billed the other department RO 15000 Municipality issued 5% bonds of RO 55000 at RO 5 each at a premium of 10%
4. The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits $32,000 47,000 712,000 89,000 479,000 45,000 17,000 40,000 18,000 $1,479,000 Credits $ 96,000 28,000 45,000 12,000 550,000 4,000 119,000 625,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the…
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Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2019: Assets: City of Tallahassee General Fund Balance Sheet (in thousands) Cash and cash equivalents Due from other governments All other assets Total assets Liabilities: Total current liabilities Fund balance: Nonspendable Committed Assigned $2,480 0 11,848 $14,328 $11,287 1,500 0 0
Prepare a balance sheet and a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2021.
Hi, I am in advanced accounting and doing a balance sheet for state and local government. Can you help me create a balance sheet for the capital projects fund? The following unadjusted trial balances are for the governmental funds of the city of Copeland prepared from the current accounting records: Capital projects fund debit credit cash $70,000 special assessments receivable 90,000 contracts payable $50,000 unavailable revenues 90,000 encumbrances outstanding 16,000 fund balance-unassigned 0 other financing sources 150,000 expenditures…
The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2017. Prepare a condensed statement of revenues, expenditures, and other changes in fund balance and also prepare a condensed balance sheet.
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