Problem

The following trial balance is taken from the General Fund of the City of Jennings for the...

The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31. 2013. Prepare a condensed statement of revenues, expenditures, and other changes in fund balance and also prepare a condensed balance sheet.

 

Debit

Credit

Accounts Payable

 

$ 90,000

Cash

$ 30,000

 

Contracts Payable

 

90,000

Deferred Revenues

 

40,000

Due from Capital Projects Funds

60,000

 

Due to Debt Service Funds

 

40,000

Expenditures

530,000

 

Fund Balance-Unassigned

 

170,000

Investments

410,000

 

Revenues

 

760,000

Other Financing Sources- Bond Proceeds

 

300,000

Other Financing Sources-Transfers In

 

50,000

Other Financing Uses-Transfers Out

470,000

 

Taxes Receivable

220,000

 

Vouchers Payable

 

180,000

Totals

$1,720,000

$1,720,000

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