The balance sheet of the general fund of Ruby Valley on June 30, 20X1, follows Budget and transaction information for fiscal 20X2 is as follows 1 Estimated revenue The property tax levy was ( $ 1,300,000 ), of which uncollectible taxes were estimated at (1 frac 1 2 ) percent 2 Appropriations were (...

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The balance sheet of the general fund of Ruby Valley on June 30, 20X1, follows: Budget and

Question:

The balance sheet of the general fund of Ruby Valley on June 30, 20X1, follows:

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Budget and transaction information for fiscal 20X2 is as follows:
1. Estimated revenue:

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The property tax levy was $\$ 1,300,000$, of which uncollectible taxes were estimated at $1 \frac{1}{2}$ percent.
2. Appropriations were $\$ 1,356,000$ and estimated transfers out to internal service fund, $\$ 25,000$. Ruby Valley uses the nonlapsing method to account for encumbrances. The appropriations included $\$ 50,000$ for a new elevator.
3. Cash receipts were as follows:

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The remaining property taxes from fiscal 20X1 were written off, and those remaining from $20 \times 2$ were reclassified. The allowance for uncollectibles for $20 \times 2$ was reduced to $\$ 7,500$.
4. The general fund issued purchase orders totaling $\$ 1,336,000$, of which $\$ 120,000$ were outstanding at year-end. Actual expenditures were $\$ 1,240,000$, including $\$ 20,000$ for $20 \mathrm{X} 1$

encumbrances, $\$ 27,000$ for supplies, and $\$ 45,000$ for a new elevator. Vouchers paid totaled $\$ 1,227,000$. The supplies on hand June $30,20 \mathrm{X} 2$, were $\$ 6,700$. Ruby Valley uses the consumption method to account for inventories.
5. Other cash payments and transfers were as follows:

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