Question

Create the balance sheet according to this trial balance

The following unadjusted trial balances are for the governmental funds of the City of Copeland prepared from the current accounting records:

General Fund

	Debit		Credit
Cash	$	19,000
Taxes Receivable		202,000
Allowance for Uncollectible Taxes			$	2,000
Vouchers Payable				24,000
Due to Debt Service Fund				10,000
Unavailable Revenues				16,000
Encumbrances Outstanding				9,000
Fund Balance—Unassigned				103,000
Revenues				176,000
Expenditures		110,000
Encumbrances		9,000
Estimated Revenues		190,000
Appropriations				171,000
Budgetary Fund Balance				19,000
Totals	$	530,000	$	530,000

Debt Service Fund

	Debit		Credit
Cash	$	8,000
Investments		51,000
Taxes Receivable		11,000
Due from General Fund		10,000
Fund Balance—Committed			$	45,000
Revenues				20,000
Other Financing Sources—Operating Transfers In				90,000
Expenditures		75,000
Totals	$	155,000	$	155,000

Capital Projects Fund

	Debit		Credit
Cash	$	70,000
Special Assessments Receivable		90,000
Contracts Payable			$	50,000
Unavailable Revenues				90,000
Encumbrances Outstanding				16,000
Fund Balance—Unassigned				0
Other Financing Sources				150,000
Expenditures		130,000
Encumbrances		16,000
Estimated Other Financing Sources		150,000
Appropriations				150,000
Totals	$	456,000	$	456,000

Special Revenue Fund

	Debit		Credit
Cash	$	14,000
Taxes Receivable		41,000
Inventory of Supplies		4,000
Vouchers Payable			$	25,000
Grant Revenues Collected in Advance				3,000
Fund Balance—Nonspendable				4,000
Encumbrances Outstanding				3,000
Fund Balance—Restricted				19,000
Revenues				56,000
Expenditures		48,000
Encumbrances		3,000
Estimated Revenues		75,000
Appropriations				60,000
Budgetary Fund Balance				15,000
Totals	$	185,000	$	185,0

Answer 1

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	Balance Sheet as at
	General Fund	Debt service Fund	Capital projects Fund	Special Revenue Fund
Assets	$	$	$	$
Cash	19,000	8,000	70,000	14,000
Investments	0	51,000	0	0
Receivables-taxes	202,000	11,000	0	41,000
Allowance for uncollectible taxes	-2,000
Special assessment receivables	0	0	90,000	0
Due from other funds		10,000
Inventory of supplies	0	0	0	4,000
Other assets	0	0	0	0
Total Assets	219,000	80,000	160,000	59,000
Liabilities and other Fund balances
Liabilities
Vouchers Payable	24,000	0	0	25,000
Contract payable	0	0	50,000	0
Due to other fund	10,000
Unavailable Revenues	16,000	0	90,000
Other Liabilities -Grant Revenues collected in advance	0	0	0	3,000
Total Liabilities	50,000	0	140,000	28,000
Fund balances:
Ending fund balances	169,000	80,000	20,000	31,000
Total Liabilities and Fund balances	219,000	80,000	160,000	59,000
Notes
Excess of Revenue over Expenditures
operating transfers in		90,000
Revenues	176,000	20,000	150,000	56,000
Expenditures	-110,000	-75,000	-130,000	-48,000
Encumbrances	-9,000		-16,000	-3,000
Excess of Revenue over Expenditures	57,000	35,000	4,000	5,000
Reserved for Encumbrances	9,000	0	16,000	3,000
Reserved for inventories	0	0	0	0
Reserved for mortgages Receivable	0	0	0	0
Reserved for long-term advances receivable	0	0	0	0
Reserved for other long term assets	0	0	0	0
Reserved for debt service	0	45,000	0	0
Reserved for permanent endowments	0	0	0	0
Reserved for environmentally endangered lands	0	0	0	0
Reserved for special revenue funds	0	0	0	4,000
Reserved for strom water utility	0	0	0	0
Unreserved, reported in major funds	103,000	0	0	0
Unreserved, reported in non-major funds:	0	0	0	0
Special Revenue funds	0	0	0	19,000
Capital Projects funds	0	0	0	0
Permanent funds	0	0	0	0
Total fund balances	169,000	80,000	20,000	31,000