E 20-9 Preparation of fund balance sheet A general ledger trial balance at June 30, 2013, for Millar City is as follows: Debits Credits Cash $12,000 — Taxes receivable 30,000 — Allowance for uncollectible taxes — $2,000 Due from other funds 3,000 — Supplies inventory, June 30, 2013 4,000 — Estimated revenues 300,000 — Expenditures 290,000 — Expenditures—prior year 5,000 — Encumbrances 6,000 — Vouchers payable — 13,000 Due to other funds — 5,000 Reserve for encumbrances — 6,000 Reserve for encumbrances—prior year — 5,000 Fund balance—nonspendable — 4,000 Fund balance—unassigned — 10,000 Appropriations — 300,000 Revenues — 305,000 $650,000 $650,000 Millar City uses a purchases basis in accounting for supplies. Open encumbrances are considered constrained by the highest decision-making level of the city. Required Prepare a fund balance sheet as of June 30, 2013.
E 20-9 Preparation of fund balance sheet
A general ledger
|
|
Debits |
Credits |
|---|---|---|
|
Cash |
$12,000 |
— |
|
Taxes receivable |
30,000 |
— |
|
Allowance for uncollectible taxes |
— |
$2,000 |
|
Due from other funds |
3,000 |
— |
|
Supplies inventory, June 30, 2013 |
4,000 |
— |
|
Estimated revenues |
300,000 |
— |
|
Expenditures |
290,000 |
— |
|
Expenditures—prior year |
5,000 |
— |
|
Encumbrances |
6,000 |
— |
|
Vouchers payable |
— |
13,000 |
|
Due to other funds |
— |
5,000 |
|
Reserve for encumbrances |
— |
6,000 |
|
Reserve for encumbrances—prior year |
— |
5,000 |
|
Fund balance—nonspendable |
— |
4,000 |
|
Fund balance—unassigned |
— |
10,000 |
|
Appropriations |
— |
300,000 |
|
Revenues |
— |
305,000 |
|
|
$650,000 |
$650,000 |
Millar City uses a purchases basis in accounting for supplies. Open encumbrances are considered constrained by the highest decision-making level of the city.
Required
Prepare a fund balance sheet as of June 30, 2013.
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