Problem

The preclosing account balances of the general fund of the City of Batavia on June 30, 201...

The preclosing account balances of the general fund of the City of Batavia on June 30, 2015, were as follows:

Debits

 

Cash

$80,000

Taxes receivable—delinquent

160,000

Due from County

18,000

Estimated revenues

1,000,000

Expenditures

940,000

Nonreciprocal transfers out

10,000

Encumbrances

20,000

 

$2,228,000

Credits

 

Allowance for uncollectible taxes—delinquent

$30,000

Vouchers payable

58,000

Notes payable

60,000

Reserve for encumbrances

20,000

Fund balance—unassigned

120,000

Revenues

980,000

Appropriations

960,000

 

$2,228,000

The fund balance—unassigned at the beginning of the year was $80,000, and there were no carryover encumbrances at the beginning of the fiscal year. The end of year encumbrances are a result of enabling legislation.

REQUIRED

1. Prepare a statement of revenues, expenditures, and changes in total fund balance for the year ended June 30, 2015.


2. Prepare a general fund balance sheet at June 30, 2015.

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Solutions For Problems in Chapter 20