At the end of fiscal year 2017, the City of Georgetown's General Fund pre-adjusting trial balance...
|
At the end of fiscal year 2017, the City of Georgetown's General Fund pre-adjusting trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. |
|
Debits |
Credits |
||||||||
|
Appropriations |
$ |
6,224,000 |
|||||||
|
Estimated Other Financing Uses |
2,776,000 |
||||||||
|
Estimated Revenues |
$ |
7,997,000 |
|||||||
|
Encumbrances |
0 |
||||||||
|
Expenditures |
6,192,000 |
||||||||
|
Other Financing Uses |
2,770,000 |
||||||||
|
Revenues |
7,980,000 |
||||||||
|
Budgetary Fund Balance |
1,003,000 |
||||||||
|
Fund Balance-Nonspendable-Inventory of Supplies |
140,000 |
||||||||
|
Fund Balance-Unassigned |
1,990,000 |
||||||||
Required
Prepare the closing entries for the year.
Homework Answers
Add Answer to:
At the end of fiscal year 2017, the City of Georgetown's General
Fund pre-adjusting trial balance...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits $6,224,000 2,776,000 $7,997,000 Appropriations Estimated Other Financing Uses Estimated Revenues Encumbrances Expenditures Other Financing Uses Revenues Budgetary Fund Balance Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned 6,192,000 2,770,000 7,980,000 1,003,000 140,000 1,990,000 The City of Columbus uses the purchases method of accounting for its inventory of supplies in the...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits $6,224,000 2,776,000 $7,997,000 Appropriations Estimated Other Financing Uses Estimated Revenues Encumbrances Expenditures Other Financing Uses Revenues Budgetary Fund Balance Fund Balance-Monspendable-Inventory of Supplies Fund Balance-Unassigned 6,192,000 2,770,000 7,980,000 1,603,000 140,000 1,990,000 The City of Columbus uses the purchases method of accounting for its inventory of supplies in the...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits Appropriations $ 5,824,000 Estimated Other Financing Uses 2,576,000 Estimated Revenues $ 7,597,000 Encumbrances 0 Expenditures 5,792,000 Other Financing Uses 2,570,000 Revenues 7,580,000 Budgetary Fund Balance 803,000 Fund Balance—Nonspendable—Inventory of Supplies 124,400 Fund Balance—Unassigned 1,986,000 The City of Columbus uses the purchases method of accounting for its inventory of...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits Appropriations $ 7,124,000 Estimated Other Financing Uses 3,226,000 Estimated Revenues $ 8,897,000 Encumbrances 0 Expenditures 7,092,000 Other Financing Uses 3,220,000 Revenues 8,880,000 Budgetary Fund Balance 1,453,000 Fund Balance—Nonspendable—Inventory of Supplies 175,100 Fund Balance—Unassigned 2,009,000 The City of Columbus uses the purchases method of accounting for its inventory of...
The following is a pre-closing trial balance for the Village of Lake Augusta’s general Fund as of December 31, 2017:...
The following is a pre-closing trial balance for the Village of Lake Augusta’s general Fund as of December 31, 2017: Debits Credits Accounts payable 6,800 Appropriations 160,000 Budgetary fund balance 38,000 Budgetary fund balance: reserve for encumbrances 5,000 Cash 116,500 Deferred revenues: property taxes 3,000 Due to other funds 5,000 Encumbrances 5,000 Estimated other financing sources 8,000 Estimated other financing uses 10,000 Estimated revenues 200,000 Estimated uncollectible taxes 2,000 Expenditures 154,000 Fund balance 54,700 Other financing sources 10,000 Other financing...
The following is a pre-closing trial balance for the Village of Lake Augusta’s general Fund as...
The following is a pre-closing trial balance for the Village of Lake Augusta’s general Fund as of December 31, 2017: Debits Credits Accounts payable 6,800 Appropriations 160,000 Budgetary fund balance 38,000 Budgetary fund balance: reserve for encumbrances 5,000 Cash 116,500 Deferred revenues: property taxes 3,000 Due to other funds 5,000 Encumbrances 5,000 Estimated other financing sources 8,000 Estimated other financing uses 10,000 Estimated revenues 200,000 Estimated uncollectible taxes 2,000 Expenditures 154,000 Fund balance 54,700 Other financing sources 10,000 Other financing...
The preclosing trial balance at December 31, 20X1, for Lone Wolf’s general fund follows. Debit Credit...
The preclosing trial balance at December 31, 20X1, for Lone Wolf’s general fund follows. Debit Credit Cash $ 94,000 Property Taxes Receivable—Delinquent 118,200 Allowance for Uncollectibles—Delinquent $ 7,100 Due from Other Funds 14,300 Vouchers Payable 63,000 Due to Other Funds 8,400 Fund Balance—Unassigned 120,000 Property Tax Revenue 1,140,000 Miscellaneous Revenue 38,000 Expenditures 1,125,000 Other Financing Uses—Transfer Out 25,000 Estimated Revenues Control 1,233,000 Appropriations Control 1,155,000 Estimated Other Financing Uses—Transfer Out 25,000 Encumbrances 39,000 Budgetary Fund Balance—Assigned for Encumbrances 39,000 Budgetary...
The City of Morganville had the following pre-closing account balances in its General Fund as of April 30, 2017. Debits...
The City of Morganville had the following pre-closing account balances in its General Fund as of April 30, 2017. Debits and credits are not separated; each account had its “normal” balance. Among the expenditures recorded this year is an amount expended on supplies ordered at the end of the previous year. Assume that encumbrances do not lapse and that the City failed to make the journal entry(s) necessary to re-establish the encumbrance in the current year. Required: Prepare all...
· The City of Troutman had the following partial list of pre-closing account balances in its General Fund as of June...
· The City of Troutman had the following partial list of pre-closing account balances in its General Fund as of June 30, 2019. Debits Credits $3,675,000 385,000 111,000 60,000 107,000 290,000 Appropriations Control Budgetary Fund Balance Budgetary Fund Balance - Reserve for Encumbrances Due to Other Funds Encumbrances Control Estimated Other Financing Uses Control Estimated Revenues Control Expenditures Control Fund Balance Other Financing Uses Control-Transfers Out Revenues Control Taxes Receivable-Delinquent Vouchers Payable 3,860,000 3,405,000 272,000 315,000 3,968,000 85,000 275,000 Required:...
The preclosing trial balance at December 31, 20X1, for Lone Wolf's general fund follows Debit Credit $95,000 116,500 Cash Property Taxes Receivable-Delinquent Allowance for Uncollectibles-Delinqu...
The preclosing trial balance at December 31, 20X1, for Lone Wolf's general fund follows Debit Credit $95,000 116,500 Cash Property Taxes Receivable-Delinquent Allowance for Uncollectibles-Delinquent Due from Other Funds Vouchers Payable Due to Other Funds Fund Balance-Unassigned Property Tax Revenue Miscellaneous Revenue Expenditures Other Financing Uses-Transfer Out Estimated Revenues Control Appropriations Control Estimated Other Financing Uses-Transfer Out encumbranceS Budgetary Fund Balance-Assigned for Encumbrances Budgetary Fund Balance-Unassigned Total 7,400 14,800 70,000 8,900 118,000 1,145,000 35,000 1,140,000 18,000 1,208,000 1,150,000 18,000 37,000...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits $6,224,000 2,776,000 $7,997,000 Appropriations Estimated Other Financing Uses Estimated Revenues Encumbrances Expenditures Other Financing Uses Revenues Budgetary Fund Balance Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned 6,192,000 2,770,000 7,980,000 1,003,000 140,000 1,990,000 The City of Columbus uses the purchases method of accounting for its inventory of supplies in the...
At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Debits Credits $6,224,000 2,776,000 $7,997,000 Appropriations Estimated Other Financing Uses Estimated Revenues Encumbrances Expenditures Other Financing Uses Revenues Budgetary Fund Balance Fund Balance-Monspendable-Inventory of Supplies Fund Balance-Unassigned 6,192,000 2,770,000 7,980,000 1,603,000 140,000 1,990,000 The City of Columbus uses the purchases method of accounting for its inventory of supplies in the...
· The City of Troutman had the following partial list of pre-closing account balances in its General Fund as of June 30, 2019. Debits Credits $3,675,000 385,000 111,000 60,000 107,000 290,000 Appropriations Control Budgetary Fund Balance Budgetary Fund Balance - Reserve for Encumbrances Due to Other Funds Encumbrances Control Estimated Other Financing Uses Control Estimated Revenues Control Expenditures Control Fund Balance Other Financing Uses Control-Transfers Out Revenues Control Taxes Receivable-Delinquent Vouchers Payable 3,860,000 3,405,000 272,000 315,000 3,968,000 85,000 275,000 Required:...
The preclosing trial balance at December 31, 20X1, for Lone Wolf's general fund follows Debit Credit $95,000 116,500 Cash Property Taxes Receivable-Delinquent Allowance for Uncollectibles-Delinquent Due from Other Funds Vouchers Payable Due to Other Funds Fund Balance-Unassigned Property Tax Revenue Miscellaneous Revenue Expenditures Other Financing Uses-Transfer Out Estimated Revenues Control Appropriations Control Estimated Other Financing Uses-Transfer Out encumbranceS Budgetary Fund Balance-Assigned for Encumbrances Budgetary Fund Balance-Unassigned Total 7,400 14,800 70,000 8,900 118,000 1,145,000 35,000 1,140,000 18,000 1,208,000 1,150,000 18,000 37,000...
Most questions answered within 3 hours.
-
The tires of a car make 61 revolutions as the car reduces its
speed uniformly from...
asked 10 minutes ago -
Peabody, Inc., sells fireworks. The company’s marketing director
developed the following cost of goods sold budget...
asked 14 minutes ago -
A signal transduction pathway includes the steps listed
below.
1. An inactive signal transduction molecule is...
asked 13 minutes ago -
1. The correlation coefficient determined for two variables has
a value of 0.89. Describe, in words,...
asked 19 minutes ago -
The following data relate to direct materials costs for
November:
Actual costs
4,700 pounds at $5.35...
asked 17 minutes ago -
Kyle, a 95.0 kg football player, leaps straight up into the air
(with no horizontal velocity)...
asked 41 minutes ago -
Which of the following is a measure of profitability?
A.
Quick (acid-test) ratio
B.
Net sales...
asked 44 minutes ago -
Find the total pressure exerted by 2 grams of ethane and 3 grams
of CO2 contained...
asked 45 minutes ago -
A fireman standing on a 5.2 m high ladder operates a water hose
with a round...
asked 42 minutes ago -
A cream formulation is studied for accelerated stability study.
Creaming was observed when formulation was tested...
asked 45 minutes ago -
A 1,150 lumen light bulb is placed 37 cm in front of a mirrored
wall, whose...
asked 55 minutes ago -
Given that z is a standard normal random variable, compute the
following probabilities (to 4 decimals)....
asked 1 hour ago