City of SmithvilleGeneral FundOperating statement account balancesFor year 2023 Estimated Revenues Dr(Cr)Revenues Dr(Cr)Balance Dr(Cr) Acct 3020/4020Estimated Revenues-Property Taxes$1,877,413$1,877,578($165) Acct 3030/4030Estimated Revenues-Sales Taxes1,578,0001,579,203(1,203) Acct 3040/4040Estimated Revenues-Interest and Penalties on Taxes15,00012,5712,429 Acct 3050/4050Estimated Revenues-Licenses and Permits500,000497,9602,040 Acct 3060/4060Estimated Revenues-Fines and Forfeits175,000173,5901,410 Acct 3070/4070Estimated Revenues-Intergovernmental Revenue789,000789,0000 Acct 3080/4080Estimated Revenues-Charges for Services659,720661,253(1,533) Acct 3090/4090Estimated Revenues-Miscellaneous Revenues91,30091,25050 Encumberances Dr(Cr)Expenditures Dr(Cr)Appropriations Cr(Dr)Available Balance Cr(Dr)Acct 5020 / 6020 / 7020Appropriations-General Government$1,500$1,175,043$1,178,000$1,457Acct 5030 / 6030 / 7030Appropriations-Public Safety02,214,3502,215,000650Acct 5040 / 6040 / 7040Appropriations-Public Works10,391862,998875,7002,311Acct 5050 / 6050 / 7050Appropriations-Health and Welfare0876,380735,000(141,380)Acct 5060 / 6060 / 7060Appropriations-Culture and Recreation1,580503,418647,500142,502 e. Prepare a reconciliation of total expenditures

In case of government funded organization, expenditure incurred out of the fund provided by the…

Answered: City of Smithville General Fund…

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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City of Smithville
General Fund
Operating statement account balances
For year 2023

		Estimated Revenues Dr(Cr)	Revenues Dr(Cr)	Balance Dr(Cr)
Acct 3020/4020	Estimated Revenues-Property Taxes	$1,877,413	$1,877,578	($165)
Acct 3030/4030	Estimated Revenues-Sales Taxes	1,578,000	1,579,203	(1,203)
Acct 3040/4040	Estimated Revenues-Interest and Penalties on Taxes	15,000	12,571	2,429
Acct 3050/4050	Estimated Revenues-Licenses and Permits	500,000	497,960	2,040
Acct 3060/4060	Estimated Revenues-Fines and Forfeits	175,000	173,590	1,410
Acct 3070/4070	Estimated Revenues-Intergovernmental Revenue	789,000	789,000	0
Acct 3080/4080	Estimated Revenues-Charges for Services	659,720	661,253	(1,533)
Acct 3090/4090	Estimated Revenues-Miscellaneous Revenues	91,300	91,250	50


		Encumberances Dr(Cr)	Expenditures Dr(Cr)	Appropriations Cr(Dr)	Available Balance Cr(Dr)
Acct 5020 / 6020 / 7020	Appropriations-General Government	$1,500	$1,175,043	$1,178,000	$1,457
Acct 5030 / 6030 / 7030	Appropriations-Public Safety	0	2,214,350	2,215,000	650
Acct 5040 / 6040 / 7040	Appropriations-Public Works	10,391	862,998	875,700	2,311
Acct 5050 / 6050 / 7050	Appropriations-Health and Welfare	0	876,380	735,000	(141,380)
Acct 5060 / 6060 / 7060	Appropriations-Culture and Recreation	1,580	503,418	647,500	142,502

e. Prepare a reconciliation of total expenditures

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