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Following is the trial balance of City of Kendall Green’s General Fund at December 31, 2019. Using MS-Excel, prepare well-formatted worksheets as follows:

Following is the trial balance of City of Kendall Green’s General Fund at December 31, 2019. Using MS-Excel, prepare well-formatted worksheets as follows:

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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Accounting Cycle Project

Following is the trial balance of City of Kendall Green’s General Fund at December 31, 2019.

Using MS-Excel, prepare well-formatted worksheets as follows:

(a) closing entries

(b) a post-closing trial balance.

(c) a statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2019

(d) a balance sheet at December 31, 2019.

Debits $ 20,000 Credits Cash Property taxes receivable 30,000 Due from other funds 10,000 Vouchers payable $ 15,000 Unassigned fund balance, January 1, 2019 Revenues-property taxes 25,000 325,000 Revenues-other 35,000 Expenditures-salaries Expenditures-materials 280,000 20,000 Transfer out to Debt Service Fund 40,000 Encumbrances-materials 4,000 4,000| Budgetary fund balance reserved for encumbrances Estimated revenues--property taxes 325,000 Estimated revenues–other 40,000 Appropriations- salaries Appropriations-materials Appropriations-transfer out to Debt Service Fund Budgetary fund balance 290,000 25,000 40,000 10,000 $769,000 Totals $769,000
Transcribed Image Text:Debits $ 20,000 Credits Cash Property taxes receivable 30,000 Due from other funds 10,000 Vouchers payable $ 15,000 Unassigned fund balance, January 1, 2019 Revenues-property taxes 25,000 325,000 Revenues-other 35,000 Expenditures-salaries Expenditures-materials 280,000 20,000 Transfer out to Debt Service Fund 40,000 Encumbrances-materials 4,000 4,000| Budgetary fund balance reserved for encumbrances Estimated revenues--property taxes 325,000 Estimated revenues–other 40,000 Appropriations- salaries Appropriations-materials Appropriations-transfer out to Debt Service Fund Budgetary fund balance 290,000 25,000 40,000 10,000 $769,000 Totals $769,000
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