The pre-closing trial balance for the general fund of Lancaster Company at December 31, 2019 is given below. Credit Debit Cash Taxes receivable Estimated revenues Estimated other financing sources Expenditure Transfers out Capital Outlay Debt service-principal Debt service-interest Allowance for uncollectible taxes Accounts payable Property tax revenues Other revenues Proceeds from bonds Transfers in Appropriations Estimated other financing uses Fund balance----unassigned Totals Multiple Choice о O $380,000 $425,000 $475,000 $362,000 113,000 1,290,000 60,000 What is the total fund balances-unassigned reported on 2019 balance sheet (after the closing entries)? $285,000 1,015,000 20,000 25,000 2,000 8,000 $2,895,000 $ 45,000 50,000 950,000 400,000 50,000 8,000 1,085,000 22,000 285,000 $2,895,000

The pre-closing trial balance for the general fund of Lancaster Company at December 31, 2019 is given below. Credit Debit Cash Taxes receivable Estimated revenues Estimated other financing sources Expenditure Transfers out Capital Outlay Debt service-principal Debt service-interest Allowance for uncollectible taxes Accounts payable Property tax revenues Other revenues Proceeds from bonds Transfers in Appropriations Estimated other financing uses Fund balance----unassigned Totals Multiple Choice о O $380,000 $425,000 $475,000 $362,000 113,000 1,290,000 60,000 What is the total fund balances-unassigned reported on 2019 balance sheet (after the closing entries)? $285,000 1,015,000 20,000 25,000 2,000 8,000 $2,895,000 $ 45,000 50,000 950,000 400,000 50,000 8,000 1,085,000 22,000 285,000 $2,895,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 5RE

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