2. Following is a trial balance of City of Smithville's General Fund at December 31, 2013. Prepare: (a) closing entries; (b) a post-closing trial balance; (c) a statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2013; and (d) a balance sheet at December 31, 2013.

Debits Credits

Cash $ 20,000

Property taxes receivable 30,000

Due from other funds 10,000

Vouchers payable $ 15,000

Fund balance (unreserved), January 1, 2008 25,000

Revenues - property taxes 325,000

Revenues - other 35,000

Expenditures - salaries 280,000

Expenditures - materials 20,000

Transfer out to Debt Service Fund 40,000

Encumbrances - materials 4,000

Budgetary fund balance reserved for encumbrances 4,000

Estimated revenues - property taxes 325,000

Estimated revenues - other 40,000

Appropriations - salaries 290,000

Appropriations - materials 25,000

Appropriations - transfer to Debt Service Fund 40,000

Budgetary fund balance 10,000

Totals $769,000 $769,000

Answer:

GENERAL JOURNAL Page

Date		Description of entry	Post Ref	Debit		Credit