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Question & Answer: Debit 110,000 250,000 Credit 110,000 41,600 800,000 Revenues . 586,600 5,000 80,000 Encumbrances Fund Balance Reserved for Encu…..

Debit 110,000 250,000 Credit 110,000 41,600 800,000 Revenues . 586,600 5,000 80,000 Encumbrances Fund Balance Reserved for Encumbrances . .. _. . . . . .. 80,000 10,000 900,000 Estimated Other Financing Sources. 600,000 15,000 295,000 1,600 1,941,600

Above is the year-end trial balance for a capital projects fund for the city of Rochester as of December 31, 2019. Prepare the closing entries as of December 31,2019.

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Question & Answer: Debit 110,000 250,000 Credit 110,000 41,600 800,000 Revenues . 586,600 5,000 80,000 Encumbrances Fund Balance Reserved for Encu…..
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Debit 110,000 250,000 Credit 110,000 41,600 800,000 Revenues . 586,600 5,000 80,000 Encumbrances Fund Balance Reserved for Encumbrances . .. _. . . . . .. 80,000 10,000 900,000 Estimated Other Financing Sources.’ 600,000 15,000 295,000 1,600 1,941,600

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Question & Answer: Debit 110,000 250,000 Credit 110,000 41,600 800,000 Revenues . 586,600 5,000 80,000 Encumbrances Fund Balance Reserved for Encu..... 1

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