Chapter 17, Problem 18EP

Use the data from Problem 17–17 for this assignment. In completing the assignment, assume that all assets are entity assets, Fund Balance with Treasury is an intragovernmental asset, and all other assets are governmental. Also, assume that Other Appropriations Realized—2019 were zero.

Required

In good form, prepare the following statements for the Save Our Resources Commission for 2020:

1. a.      A statement of budgetary resources using Illustration 17–17 as an example.
2. b.      A statement of changes in net position using Illustration 17–16 as an example.
3. c.       A balance sheet using Illustration 17–15 as an example.

Problem 17-17:

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.