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Posted on Jul 17, 2024

1. Export the post-closing trial balance for the year 2020 to an Excel worksheet and use Excel to prepare a balance sheet for the Street

1. Export the post-closing trial balance for the year 2020 to an Excel worksheet and use Excel to prepare a balance sheet for the Street Improvement Fund as of December 31, 2020. (See Illustration 4-4 in the textbook for an example of an appropriate format of a governmental fund balance sheet.) In addition, save and print the post-closing trial balance from the [Reports] drop-down menu.

2. Export the pre-closing trial balance for year 2020 to an Excel worksheet and use Excel to prepare a statement of revenues, expenditures, and changes in fund balance for the Street Improvement Fund for the year ended December 31, 2020. (See Illustration 5-3 in textbook for an example of the format of a capital projects fund statement of revenues, expenditures and changes in fund balance.) Save and print the pre-closing trial balance from the [Reports] drop-down menu. image text in transcribed

Governmental Activities, Governmental-Wide level Post-closing Trial Balance For year 2020 Debits Credits $ 530, 192 395, 049 $ 49, 326 5,856 6, 859 150,000 4, 180,000 17,674,500 2, 713, 944 6, 296, 000 1,731, 000 3, 589, 140 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture and Recreation Expenses-Interest on Long-Term Debt Totals for all accounts 1, 765, 480 5, 262, 500 334, 166 125, 210 6, 001 2,000,000 20,000 17, 684, 376 519, 998 1,032, 990 639,000 281, 391 150,000 1, 841, 126 560, 000 3, 248 794, 284 1, 905, 390 652, 406 559, 802 12, 500 $ 36, 735, 867 $ 36, 735, 867 Street Improvement Fund Post-closing Trial Balance For year 2020 Debits Credits $ 10,000 Cash Fund Balance-Restricted Totals for all accounts $ 10,000 $ 10, 000 $ 10,000 Governmental Activities, Governmental-Wide level Pre-closing Trial Balance For year 2020 Debits Credits $ 530, 192 395, 049 $ 49, 326 5,856 6, 859 150,000 4, 180,000 17,674,500 2, 713, 944 6, 296, 000 1, 731, 000 3, 589, 140 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture and Recreation Expenses-Interest on Long-Term Debt Totals for all accounts 1, 765, 480 5, 262,500 334, 166 125, 210 6, 001 2,000,000 20,000 17, 684, 376 519, 998 1,032, 990 639,000 281, 391 150,000 1,841, 126 560,000 3, 248 794, 284 1, 905, 390 652, 406 559, 802 12, 500 $ 36, 735, 867 $ 36, 735, 867 Street Improvement Fund Pre-closing Trial Balance For year 2020 Debits Credits $ 10,000 Cash Revenues-Sales Taxes Other Financing Sources-Proceeds of Bonds Construction Expenditures-Elm Street Project Totals for all accounts $ 560,000 2,000,000 2,550,000 $ 2, 560, 000 $ 2, 560, 000 Governmental Activities, Governmental-Wide level Post-closing Trial Balance For year 2020 Debits Credits $ 530, 192 395, 049 $ 49, 326 5,856 6, 859 150,000 4, 180,000 17,674,500 2, 713, 944 6, 296, 000 1,731, 000 3, 589, 140 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture and Recreation Expenses-Interest on Long-Term Debt Totals for all accounts 1, 765, 480 5, 262, 500 334, 166 125, 210 6, 001 2,000,000 20,000 17, 684, 376 519, 998 1,032, 990 639,000 281, 391 150,000 1, 841, 126 560, 000 3, 248 794, 284 1, 905, 390 652, 406 559, 802 12, 500 $ 36, 735, 867 $ 36, 735, 867 Street Improvement Fund Post-closing Trial Balance For year 2020 Debits Credits $ 10,000 Cash Fund Balance-Restricted Totals for all accounts $ 10,000 $ 10, 000 $ 10,000 Governmental Activities, Governmental-Wide level Pre-closing Trial Balance For year 2020 Debits Credits $ 530, 192 395, 049 $ 49, 326 5,856 6, 859 150,000 4, 180,000 17,674,500 2, 713, 944 6, 296, 000 1, 731, 000 3, 589, 140 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture and Recreation Expenses-Interest on Long-Term Debt Totals for all accounts 1, 765, 480 5, 262,500 334, 166 125, 210 6, 001 2,000,000 20,000 17, 684, 376 519, 998 1,032, 990 639,000 281, 391 150,000 1,841, 126 560,000 3, 248 794, 284 1, 905, 390 652, 406 559, 802 12, 500 $ 36, 735, 867 $ 36, 735, 867 Street Improvement Fund Pre-closing Trial Balance For year 2020 Debits Credits $ 10,000 Cash Revenues-Sales Taxes Other Financing Sources-Proceeds of Bonds Construction Expenditures-Elm Street Project Totals for all accounts $ 560,000 2,000,000 2,550,000 $ 2, 560, 000 $ 2, 560, 000