Problem

The trial balance of the general fund of Madelyn City before closing at December 31, 2011,...

The trial balance of the general fund of Madelyn City before closing at December 31, 2011, contained the following accounts and balances:

Fund balance—unassigned

$25,000

Estimated revenues

100,000

Appropriations

95,000

Encumbrances

4,000

Reserve for encumbrances

4,000

Reserve for encumbrances—prior year

5,000

Revenues

101,000

Expenditures

94,000

Expenditures—prior year

4,800

Nonreciprocal transfers out

18,000

Reciprocal transfers in

27,000

REQUIRED : Prepare a statement of revenues, expenditures, and changes in (total) fund balance for Madelyn City’s general fund in 2011. (Details of revenue and expenditure accounts are omitted to simplify the requirement.)

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Solutions For Problems in Chapter 20