1) Prepare entries to record the following events and transactions for Tulia Township for the year 2016.

a. The Township adopted a budget calling for appropriations of $360,000. The estimated revenues (all property taxes) were $340,000.

b. The Township sent property tax bills amounting to $340,000 to property owners.

c. Property owners paid $335,000 of property taxes to the Township.

d. A purchase order of $25,000 was sent to a vendor of supplies.

e. The supplies ordered in transaction d. were received in good order and the accompanying invoice of $24,000 was approved.

2) Following is the adjusted trial balance for the General Fund of the Township of Florida on June 30, 2016, the end of the fiscal year.

Based on this information, prepare:

1. closing entries

2. the statement of revenues, expenditures, and changes in fund balance for the year

2. the balance sheet at June 30, 2016. (Classify the fund balance as Unassigned.)

Township of Florida General Fund Adjusted Trial Balance June 30, 2016
Cash	$ 6,200
Taxes receivable	40,000
Investments	65,000
Vouchers payable		38,750
Tax anticipation notes payable		12,750
Unassigned fund balance		57,000
Estimated revenues	101,000
Appropriations		99,000
Budgetary fund balance		2,000
Revenues-taxes		100,000
Revenues-other		2,080
Expenditures-personal services	94,700
Expenditures-supplies	4,680	0
	$ 311,580	$ 311,580