Chapter 17, Problem 17EP

One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary accounts of the Save Our Resources Commission of the federal government. This trial balance was prepared before budgetary accounts were adjusted, such as returning unused appropriations. The debits are not distinguished from the credits.

Required

1. a.      Compute each missing amount in the preclosing trial balance.
2. b.      Compute the net additions (or reductions) to assets other than Fund Balance with Treasury during fiscal year 2020. Clearly label your computations and show all work in good form.
3. c.       In general journal form, prepare entries to close the budgetary accounts as needed and to close the operating statement proprietary accounts.