The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2010. Prepare a condensed statement of revenues, expenditures, and other changes in fund balance and also prepare a condensed balance sheet.
|
Debit |
Credit |
|
|
Accounts Payable |
$90,000 |
|
|
Cash |
$30,000 |
|
|
Contracts Payable |
90,000 |
|
|
Deferred Revenues |
40,000 |
|
|
Due from Capital Projects Funds |
60,000 |
|
|
Due to Debt Service Funds |
40,000 |
|
|
Expenditures |
510,000 |
|
|
Fund Balance—Unassigned |
170,000 |
|
|
Investments |
410,000 |
|
|
Revenues |
740,000 |
|
|
Other Financing Sources—Bond Proceeds |
300,000 |
|
|
Other Financing Sources—Transfers In |
50,000 |
|
|
Other Financing Uses—Transfers Out |
470,000 |
|
|
Taxes Receivable |
220,000 |
|
|
Vouchers Payable |
180,000 |
|
|
Totals |
$1,700,000 |
$1,700,000 |