General Fund Budget and Closing Entries The adjusted preclosing trial balance for Whiskey Run County's general fund at June 30, 2023, is below (in thousands). Account Cash and cash equivalents Dr Cr $3,250 Property taxes receivable, net $7,500 Due to other funds $250 Accounts payable $2,500 Estimated revenues 46,000 Estimated other financing sources 2,000 Appropriations 48,300 Fund balance-unassigned 7,600 Property tax revenues 45,900 Debt service: principal 1,500 Debt service: interest 3,000 Transfers from other funds 1,900 Sale of surplus property 300 Capital outlay 1,000 General government expenditures 42,500 Total 106,750 106,750 Required Note: Provide all answers in thousands. a. Was the County's fiscal 2023 budget a balanced, surplus, or deficit budget? deficit
General Fund Budget and Closing Entries The adjusted preclosing trial balance for Whiskey Run County's general fund at June 30, 2023, is below (in thousands). Account Cash and cash equivalents Dr Cr $3,250 Property taxes receivable, net $7,500 Due to other funds $250 Accounts payable $2,500 Estimated revenues 46,000 Estimated other financing sources 2,000 Appropriations 48,300 Fund balance-unassigned 7,600 Property tax revenues 45,900 Debt service: principal 1,500 Debt service: interest 3,000 Transfers from other funds 1,900 Sale of surplus property 300 Capital outlay 1,000 General government expenditures 42,500 Total 106,750 106,750 Required Note: Provide all answers in thousands. a. Was the County's fiscal 2023 budget a balanced, surplus, or deficit budget? deficit
Chapter1: Financial Statements And Business Decisions
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