Problem

General Fund Entries [AICPA Adapted]The following trial balances were taken from the accou...

General Fund Entries [AICPA Adapted]

The following trial balances were taken from the accounts of Omega City’s general fund before the books had been closed for the fiscal year ended June 30, 20X2:

	Trial Balance July 1, 20X1	Trial Balance June 30, 20X2
Cash	$400,000	$ 700,000
Taxes Receivable	150,000	170,000
Allowance for Uncollectible Taxes	(40,000)	(70,000)
Estimated Revenues Control	—	3,000,000
Expenditures	—	2,900,000
Encumbrances	—	91,000
Total	$510,000	$6,791,000
Vouchers Payable	$ 80,000	$ 408,000
Due to Other Funds	210,000	142,000
Fund Balance—Assigned for Encumbrances	60,000	—
Fund Balance—Unassigned	160,000	220,000
Revenue from Taxes	—	2,800,000
Miscellaneous Revenues	—	130,000
Appropriations Control	—	2,980,000
Budgetary Fund Balance—Assigned for Encumbrances	—	91,000
Budgetary Fund Balance—Unassigned	—	20,000
Total	$510,000	$6,791,000

Additional Information

1. The estimated taxes receivable for the year ended June 30, 20X2, were $2,870,000, and the taxes collected during the year totaled $2,810,000. Miscellaneous revenue of $130,000 also was collected during the year.

2. Encumbrances in the amount of $2,700,000 were recorded. In addition, the $60,000 of lapsed encumbrances from the 20X1 fiscal year was renewed.

3. During the year, the general fund was billed $142,000 for services performed on its behalf by other city funds (debit Expenditures).

4. An analysis of the transactions in the Vouchers Payable account for the year ended June 30, 20X2, is as follows:

Debit (Credit)
Current expenditures (liquidating all encumbrances to date except
for renewed 20×1 commitment)	$(2,700,000)
Expenditures applicable to previous year	(58,000)
Vouchers for payments to other funds	(210,000)
Cash payments during year	2,640,000
Net change	$ (328,000)

5. On May 10, 20X2, encumbrances were recorded for the purchase of next year’s supplies at an estimated cost of $91,000.

Required

On the basis of the data presented, reconstruct the original detailed journal entries that were required to record all transactions for the fiscal year ended June 30, 20X2, including the recording of the current year’s budget. Do not prepare closing entries for June 30, 20X2.