E 20-8 Governmental fund closing entries A general ledger trial balance for Any City contained the following balances at June 30, 2013, just before closing entries were made: Due from other funds $600 Fund balance—unassigned 3,000 Estimated revenues 18,000 Revenues 17,380 Appropriations 17,500 Expenditures—current year 16,450 Expenditures—prior year 1,900 Encumbrances 1,000 Nonreciprocal transfer in 3,200 Reserve for encumbrances 1,000 Reserve for encumbrances—prior year 2,000 Required Prepare the necessary closing entries.
E 20-8 Governmental fund closing entries A general ledger trial balance for Any City contained the following balances at June 30, 2013, just before closing entries were made: Due from other funds $600 Fund balance—unassigned 3,000 Estimated revenues 18,000 Revenues 17,380 Appropriations 17,500 Expenditures—current year 16,450 Expenditures—prior year 1,900 Encumbrances 1,000 Nonreciprocal transfer in 3,200 Reserve for encumbrances 1,000 Reserve for encumbrances—prior year 2,000 Required Prepare the necessary closing entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
E 20-8 Governmental fund closing entries
A general ledger
|
Due from other funds |
$600 |
|
Fund balance—unassigned |
3,000 |
|
Estimated revenues |
18,000 |
|
Revenues |
17,380 |
|
Appropriations |
17,500 |
|
Expenditures—current year |
16,450 |
|
Expenditures—prior year |
1,900 |
|
Encumbrances |
1,000 |
|
Nonreciprocal transfer in |
3,200 |
|
Reserve for encumbrances |
1,000 |
|
Reserve for encumbrances—prior year |
2,000 |
Required
Prepare the necessary closing entries.
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