The pre-closing trial balance of the General Fund for the City of Taif shows the following balances at the end of its fiscal year. Budgetary fund balance SAR 20,000 Fund balance, beginning (actual) 150.000 Estimated revenues 830.000 Appropriations 810.000 Revenues (actual) 725.000 Expenditures 675.000   Based on information presented above Prepare closing entries for the budgetary and financial accounts.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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3. The pre-closing trial balance of the General Fund for the City of Taif shows the following balances at the end of its fiscal year.

Budgetary fund balance SAR 20,000

Fund balance, beginning (actual) 150.000

Estimated revenues 830.000

Appropriations 810.000

Revenues (actual) 725.000

Expenditures 675.000

 

Based on information presented

above Prepare closing entries for the budgetary and financial accounts.

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