The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed for the fiscal year ended June 30, 20x2 Cash Taxes Receivable Total Allowance for Uncollectible Taxes Vouchers Payable Fund Balance: Assigned for Encumbrances Total Postclosing Trial Balance, June 30, 20x1 $720,000 41,000 $761,000 $ 7,400 173,600 580,000 $761,000 Transactions July 1, 20x1-June 30, 20x2 Debit $1,800,000 $1,845,000 1,880,000 1,807,400 Credit 9,400 7,400 1,845,000 1,838,000 73,000 73,000 32,600 Postclosing Trial Balance, June 30, 20x2 $675,000 113,600 $788,600 $9,400 166,600 73,000 539,600 $788,600 Additional Information: The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000 Encumbrances of $1,070,000 were made during the year.

The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed for the fiscal year ended June 30, 20x2 Cash Taxes Receivable Total Allowance for Uncollectible Taxes Vouchers Payable Fund Balance: Assigned for Encumbrances Total Postclosing Trial Balance, June 30, 20x1 $720,000 41,000 $761,000 $ 7,400 173,600 580,000 $761,000 Transactions July 1, 20x1-June 30, 20x2 Debit $1,800,000 $1,845,000 1,880,000 1,807,400 Credit 9,400 7,400 1,845,000 1,838,000 73,000 73,000 32,600 Postclosing Trial Balance, June 30, 20x2 $675,000 113,600 $788,600 $9,400 166,600 73,000 539,600 $788,600 Additional Information: The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,100,000 and appropriations of $1,970,000 Encumbrances of $1,070,000 were made during the year.

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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