Preparation of general fund statements
The preclosing account balances of the general fund of the City of Batavia on June 30, 2012, were as follows:
|
Debits |
|
|
Cash |
$ 80,000 |
|
Taxes receivable—delinquent |
160,000 |
|
Due from County |
18,000 |
|
Estimated revenues |
1,000,000 |
|
Expenditures |
940,000 |
|
Nonreciprocal transfers out |
10,000 |
|
Encumbrances |
20,000 |
|
$2,228,000 |
|
|
Credits |
$ 30,000 |
|
Allowance for uncollectible taxes—delinquent |
58,000 |
|
Vouchers payable |
60,000 |
|
Notes payable |
20,000 |
|
Reserve for encumbrances |
120,000 |
|
Fund balance—unassigned |
980,000 |
|
Revenues |
960,000 |
|
Appropriations |
$2,228,000 |
The fund balance—unassigned at the beginning of the year was $80,000, and there were no carryover encumbrances at the beginning of the fiscal year. The end of year encumbrances are a result of enabling legislation.
REQUIRED
1. Prepare a statement of revenues, expenditures, and changes in total fund balance for the year ended June 30, 2012.
2. Prepare a general fund balance sheet at June 30, 2012.