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Solution Library
Prepare Statement Of Expenditures, Fund Balances And Changes In Fund Balance
Question
The City of Stromfield had, among others, the following pre-closing account balances in its General Fund as of June 30, 2004.
|
|
Debits |
Credits |
|
Appropriations |
|
3,000,000 |
|
Cash |
811,000 |
|
|
Due to Other Funds |
|
35,000 |
|
Encumbrances |
102,000 |
|
|
Estimated Revenues |
3,550,000 |
|
|
Expenditures |
2,970,000 |
|
|
Beginning Fund Balance As of 7/1/2003 |
|
300,000 |
|
Revenues |
|
3,601,000 |
|
Taxes Receivable |
150,000 |
|
|
Accounts Payable |
|
275,000 |
Required:
Prepare, in good form, a Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund for the year ended June 30, 2004.
Summary
The question belongs to Accounting and it discusses about preparing statement of revenues, expenditures and changes in fund balances for the general fund.
Total Word Count 45
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