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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3. The pre-closing
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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