Preparation of a fund statement of revenues, expenditures, and changes in fund balance
The trial balance of the general fund of Madelyn City before closing at December 31, 2011, contained the following accounts and balances:
|
Fund balance—unassigned |
$ 25,000 |
|
Estimated revenues |
100,000 |
|
Appropriations |
95,000 |
|
Encumbrances |
4,000 |
|
Reserve for encumbrances |
4,000 |
|
Reserve for encumbrances—prior year |
5,000 |
|
Revenues |
101,000 |
|
Expenditures |
94,000 |
|
Expenditures—prior year |
4,800 |
|
Nonreciprocal transfers out |
18,000 |
|
Reciprocal transfers in |
27,000 |
REQUIRED: Prepare a statement of revenues, expenditures, and changes in (total) fund balance for Madelyn City’s general fund in 2011. (Details of revenue and expenditure accounts are omitted to simplify the requirement.)