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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