The following is a pre-closing trial balance for Montpelier's General Fund as of June 30, 2023: Debits Credits Cash $ 116,500 Taxes Receivable—Current 29,000 Allowance for Uncollectible Current Taxes $ 3,000 Accounts Payable 7,800 Due to Other Funds 5,500 Tax Anticipation Notes Payable 50,000 Fund Balance—Unassigned 70,200 Budgetary Fund Balance 1,000 Estimated Revenues 100,000 Revenues 102,000 Appropriations 99,000 Expenditures 93,000 Totals $ 338,500 $ 338,500 What is the fund balance as of June 30, 2023, after all closing entries have been made?
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The following is a pre-closing
| Debits | Credits | ||||||
| Cash | $ | 116,500 | |||||
| Taxes Receivable—Current | 29,000 | ||||||
| Allowance for Uncollectible Current Taxes | $ | 3,000 | |||||
| Accounts Payable | 7,800 | ||||||
| Due to Other Funds | 5,500 | ||||||
| Tax Anticipation Notes Payable | 50,000 | ||||||
| Fund Balance—Unassigned | 70,200 | ||||||
| Budgetary Fund Balance | 1,000 | ||||||
| Estimated Revenues | 100,000 | ||||||
| Revenues | 102,000 | ||||||
| Appropriations | 99,000 | ||||||
| Expenditures | 93,000 | ||||||
| Totals | $ | 338,500 | $ | 338,500 | |||
What is the fund balance as of June 30, 2023, after all closing entries have been made?
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- The following is a pre-closing trial balance for Montpelier's General... The following is a pre-closing trial balance for Montpelier's General Fund as of June 30, 2023: Debits Credits Cash $116,500 Taxes Receivable-Current 29,000 Allowance for Uncollectible Current Taxes $3,000 Accounts Payable 7,800 Due to Other Funds 5, 500 Tax Anticipation Notes Payable 50,000 Fund Balance-Unassigned 70,200 Budgetary Fund Balance 1,000 Estimated Revenues 100,000 Revenues 102,000 Appropriations 99,000 Expenditures 93,000 Totals $ 338,500 $ 338, 500 What is the fund balance as of June 30, 2023, after all closing entries have been made?The unadjusted trial balance for the General Fund of the City of Allensville at June 30, 2019 is as follows: Debits Accounts Receivable $40,000 Cash 75,000 Due from Agency Fund 25,000 Encumbrances 60,000 Estimated Revenues 975,000 Expenditures 750,000 Taxes Receivable 250,000 $2,175,000 Credits Allowance for Doubtful Accounts $ 5,000 Allowance for Uncollectible Taxes 50,000 Appropriations 785,000 Due to a Utility Fund 40,000 Unassigned Fund Balance (160,000) Estimated…The unadjusted trial balance for the General Fund of the City of Allensville at June 30, 2019 is as follows: Debits Accounts Receivable $40,000 Cash 75,000 Due from Agency Fund 25,000 Encumbrances 60,000 Estimated Revenues 975,000 Expenditures 750,000 Taxes Receivable 250,000 $2,175,000 Credits Allowance for Doubtful Accounts $ 5,000 Allowance for Uncollectible Taxes 50,000 Appropriations 785,000 Due to a Utility Fund 40,000 Unassigned Fund Balance (160,000) Estimated…
- The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 103,000 Accounts receivable $ 25,800 Accrued interest payable 28,900 Accumulated depreciation 46,500 Administrative and selling expenses 48,500 Allowance for uncollectible accounts 12,400 Capital assets 707,000 Cash 90,200 Charges for sales and services 553,000 Cost of sales and services 495,000 Depreciation expense 46,500 Due from General Fund 17,100 Interest expense 40,200 Interest revenue 4,300 Transfer in from General Fund 115,200 Bank note payable 625,300 Supplies inventory 18,300 Totals $ 1,488,600 $ 1,488,600…The City of Castleton’s General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Debits Credits Cash $ 476,000 Taxes Receivable—Delinquent 601,000 Allowance for Uncollectible Delinquent Taxes $ 189,120 Interest and Penalties Receivable 28,080 Allowance for Uncollectible Interest and Penalties 12,960 Inventory of Supplies 17,900 Vouchers Payable 166,500 Due to Federal Government 77,490 Deferred Inflows of Resources—Unavailable Revenues 427,000 Fund Balance—Nonspendable—Inventory of Supplies 17,900 Fund Balance—Unassigned 232,010 $ 1,122,980 $ 1,122,980 Prepare a General Fund balance sheet as of June 30, 2020.The General Fund of a city had the following post-closing trial balance at September 30 2020. the end of its fiscal year: Debits Credits Cash 100,000 Taxes Receivable – Delinquent 583,000 Allowance for Uncollectible Delinquent Taxes 189,000 Interest and Penalties Receivable 26,280 Allowance for Uncollectible Interest & Penalties 11,160 Inventory of Supplies 16,100 Vouchers Payable 148,500 Due to Federal Government 62,490 Fund Balance – Nonspendable – Inventory Supplies…
- The preclosing trial balance of the general fund of Shorewood Village for fiscal year ended June 30, 2019, is as follows: Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .90,000Receivables (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .120,000Vouchers Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91,000Fund Balance—Assigned . . . . . . . . . . . . . . . . . . . . . 60,000Fund Balance—Unassigned . . . . . . . . . . . . . . . . . . 92,000Budgetary Fund Balance . . . . . . . . . . . . . . . . . . . . . 50,000Estimated Revenues . . . . . . . . . . . . . . . . . . . . . . . . . 600,000Estimated Other Financing Sources. . . . . . . . . . . 150,000Appropriations . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…The following transactions relate to Al-Zafra MunicipalityGeneral Fund for the year ended December 31, 2020: (All figures are in 000 AED) The balance sheet as at 31/12/2019 was as follows: Assets: Liabilities & Fund Balances: Cash 200000 Accounts payable 70000 License receivable 150000 Wages payable 10000 Supplies 5000 Fund Balance: Reserved 275000 Total Assets 355000 Total Liabilities & FB. 355000 1. The budget was passed. Estimated revenues amounted to 1,450,000 and appropriations totaled 1,680,000, and estimated other uses $300,000. 2. Contracts were issued for contracted services in the amount of 20,000. 3. Collected 1,250,000 cash including last year license receivables and issued a bill of 100,000 for new license revenues. 4. Collected 200,000 for fines revenues. 5. Issued a contract of 300,000 to complete security and residency services in the West zone. 6. Contracted services of 200,000 were performed and supplies of 280,000 have been purchased on…The year-end pre-closing trial balance for the Chance County Woodland Park Capital Projects Fund is provided below. Debits Credits Cash $ 921,000 Grant Receivables 690,000 Investments 1,300,000 Contract Payable $ 1,493,000 Contract Payable – Retained Percentage 71,000 Encumbrances Outstanding 1,850,000 Revenues 797,000 Encumbrances 1,850,000 Construction Expenditures 4,600,000 Other Financing Sources – Proceeds of Bonds 5,150,000 $ 9,361,000 $ 9,361,000 Required Prepare the year-end statement of revenues, expenditures, and changes in fund balances for the capital projects fund.
- You are given the following post-closing trial balance for the Special Assessment Capital Projects Fund of the city of Stone Creek as of January 1, 2018. The project was started last year and should be completed in June of 2018. Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290,000Contracts Payable—Retained Percentage. . . . . . . . . . . 60,000Fund Balance—Restricted . . . . . . . . . . . . . . . . . . . . . . . . . 150,000Fund Balance—Assigned for Encumbrance . . . . . . . . . 80,000Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290,000 290,000The special assessments are collected by the debt service fund, which also makes payments of principal and interest on special assessment bonds. The city has…Here is the preclosing December 31, 2017 trial balance for the general fund of Lancaster County: All numbers are in thousands. By how much do the closing entries at the end of 2017 increase fund balance-unassigned? $14,000 $270,000 $298,000 $284,000The government makes appropriations of RO 150,000 to Muscat School for the month of January 2019. During the month the following transactions occurred:Salary paid RO 35,000Purchase orders were placed for office supplies RO 49,000Office supplies were received with a voucher for RO 45,000An amount of RO 15,000 was transferred to Debt service fund.The unreserved fund balance at the end of the period is: