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Fund balance-unassigned 150,000 Totals $1,827,000 $1,827,000 By how much do the closing entries at the end of 2017 increase fund balance-unassigned? s1,000 S167,000 $203,000 s185,000

Fund balance-unassigned 150,000 Totals $1,827,000 $1,827,000 By how much do the closing entries at the end of 2017 increase fund balance-unassigned? s1,000 S167,000 $203,000 s185,000

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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Here is the pre closing December 31, 2017 trial balance for the general fund of Lancaster County: All numbers are in thousands. Debit Credit Cash $ 225,000 Taxes receivable 150,000 Estimated revenues 750,000 Estimated other financing sources 30,000 General expenditures 620,000 Capital outlay 10,000 Debt service: principal paym 1,000 Debt service: interest payments 6,000 Transfers out 15,000 Due from other funds 20,000 Allowance for uncollectible taxes $25,000 Accounts payable 20,000 Due to other funds 15,000 Property tax revenues 725,000 Speeding ticket revenues 200,000 Transfers in 10,000 Bond proceeds 12,000 Appropriations 650,000 Estimated other financing uses 20,000 Fund balance-unassigned 150,000 Totals $1,827,000 $1,827,000 By how much do the closing entries at the end of 2017 increase fund balance-unassigned? si8,000 S167,000 $203,000 s185,000
Transcribed Image Text:Here is the pre closing December 31, 2017 trial balance for the general fund of Lancaster County: All numbers are in thousands. Debit Credit Cash $ 225,000 Taxes receivable 150,000 Estimated revenues 750,000 Estimated other financing sources 30,000 General expenditures 620,000 Capital outlay 10,000 Debt service: principal paym 1,000 Debt service: interest payments 6,000 Transfers out 15,000 Due from other funds 20,000 Allowance for uncollectible taxes $25,000 Accounts payable 20,000 Due to other funds 15,000 Property tax revenues 725,000 Speeding ticket revenues 200,000 Transfers in 10,000 Bond proceeds 12,000 Appropriations 650,000 Estimated other financing uses 20,000 Fund balance-unassigned 150,000 Totals $1,827,000 $1,827,000 By how much do the closing entries at the end of 2017 increase fund balance-unassigned? si8,000 S167,000 $203,000 s185,000
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