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Please help! I need to prepare a worksheet with these accounts. How do I prepare a trial balance, statement of revenues expenditures and changes in fund balance, and a balance sheet. I am completely lost!
| City of Jenning |
CITY OF JENNINGS GENERAL FUND Statement of Revenues, Expenditures, and Other Changes in Fund Balance (Condensed) Year Ending December 31, 2017 Revenues Expenditures $-760,000 (530,000) $ 230,000 Excess (deficiency) of revenues over expenditures Other financing sources (uses): $300,000 50,000 Bond proceeds Transfers in Transfers out Total Other Financing Sources and Uses Change in Fund Balance (120,000) $110,000 Fund Balance, Beginning Fund Balance, Ending 170,000 $280,000
Expert Answer
| Trial Balance | ||
| Dec 31, 2017 | ||
| Particulars | Dr. Amt. | Cr. Amt |
| Accounts Payable | 90,000 | |
| Cash | 30,000 | |
| Contracts Payable | 90,000 | |
| Unavailable Revenues | 40,000 | |
| Due from Capital Project Funds | 60,000 | |
| Due to Debt Service Funds | 40,000 | |
| Expenditures | 530,000 | |
| Fund Balance – Unassigned | 170,000 | |
| Investments | 410,000 | |
| Revenues | 760,000 | |
| Other Financing Sources – Bonds Proceeds | 300,000 | |
| Other Financing Sources – Transfer in | 50,000 | |
| Other Financing Uses – Transfer Out | 470,000 | |
| Taxes Receivable | 220,000 | |
| Vouchers Payable | 180,000 | |
| Total | 1,720,000 | 1,720,000 |
| Statement of revenues expenditures and changes in fund balance, and a balance sheet cannot be checked since Full question is not attached. | ||
