Governmental fund closing entries
A general ledger trial balance for Any City contained the following balances at June 30, 2011, just before closing entries were made:
|
Due from other funds |
$ 600 |
|
Fund balance—unassigned |
3,000 |
|
Estimated revenues |
18,000 |
|
Revenues |
17,380 |
|
Appropriations |
17,500 |
|
Expenditures—current year |
16,450 |
|
Expenditures—prior year |
1,900 |
|
Encumbrances |
1,000 |
|
Nonreciprocal transfer in |
3,200 |
|
Reserve for encumbrances |
1,000 |
|
Reserve for encumbrances—prior year |
2,000 |
REQUIRED: Prepare the necessary closing entries.