3C. This portion of the continuous problem continues the General Fund and special revenue fund examples by requiring the recording and posting of the budgetary entries. To reduce clerical effort required for the solution use control accounts for the budgetary accounts, revenues, expenditures and encumbrances. Subsidiary accounts are not required. Budget information for the City includes:

As of January 1, 2017, the City Council approved and the mayor signed a budget calling for $11,150,000 in property tax and other revenue, $9,350,000 in appropriations for expenditures, and $1,700,000 to be transferred to two debt service funds for the payment of principal and interest. Record the budget for the General Fund and post to the ledger.

Also as of January 1, 2017, the City Council approved and the mayor signed a budget for the Street and Highway Fund that provided for estimated revenues from the state government in the amount of $1,068,000 and appropriations of $1,047,000. Record the budget and post to the ledger.

Chapters 3 & 4 The Balance Sheets of the General Fund and the Street and Highway Fund of the City of Monroe as of December 31, 2016, follow. These (beginning) balances have been entered in the proper general ledger accounts, as of 1/1/2017. Page Break Page Break CITY OF MONROE General Fund Balance Sheet A of December 31, 2016 Assets $497,000 Cash Taxes receivable S210,000 Less: Fstimated uncollectible taxes (37,000) 173,000 net Interest and penalties receivable on taxes 5,200 Less: Lstimated uncollectible interest and penalties (950) 4,250 210,000 net Due from state government Total assets $884,250 Liabilities, Deferred Inflows, and Fund Equity Liabilities Accounts payable S 99,000 27,000 Due to other funds Total liabilities 126,000 Deferred inflows Property taxes 21,000 Fund equity Fund balance assigned (for outstanding encumbrances) Fund balance-unassigned $17,000 720,250 Total fund balance 737,250 Total liabilities, deferred inflows and fund equity $884,250 CITY OC MONROR 3-C. This portion of the contimuous problem continues the General Fund and special revenue fund examples by requiring the recording and posting of the budgelary enlries. To reduce clerical effort required for the solution control accounts for the budgetary accounts, revenues, expenditures and encumbrances. Subsidiary accounts are not required. Budget information for the City includes: USe a) As of January 1, 2017, the City Council approved and the mayor signed a budget calling for $11,150,000 in property lax and other revenue, $9,350,000 in appropriations for expenditures, and $1,700,000 Lu be transferred to two debl service funds fur the payment of principal and inlerest. Record the budget for the General Fund and post to the ledger b) Also as of January 1, 2017, the City Council approved and the mayor signed a budget for the Street and Highway Fund that provided for estimated revenues from the state government in the amount of S1,068,000 and appropriations of S1,047,000. Record the budget and post to dhe ledger Chapters 3 & 4 The Balance Sheets of the General Fund and the Street and Highway Fund of the City of Monroe as of December 31, 2016, follow. These (beginning) balances have been entered in the proper general ledger accounts, as of 1/1/2017. Page Break Page Break CITY OF MONROE General Fund Balance Sheet A of December 31, 2016 Assets $497,000 Cash Taxes receivable S210,000 Less: Fstimated uncollectible taxes (37,000) 173,000 net Interest and penalties receivable on taxes 5,200 Less: Lstimated uncollectible interest and penalties (950) 4,250 210,000 net Due from state government Total assets $884,250 Liabilities, Deferred Inflows, and Fund Equity Liabilities Accounts payable S 99,000 27,000 Due to other funds Total liabilities 126,000 Deferred inflows Property taxes 21,000 Fund equity Fund balance assigned (for outstanding encumbrances) Fund balance-unassigned $17,000 720,250 Total fund balance 737,250 Total liabilities, deferred inflows and fund equity $884,250 CITY OC MONROR 3-C. This portion of the contimuous problem continues the General Fund and special revenue fund examples by requiring the recording and posting of the budgelary enlries. To reduce clerical effort required for the solution control accounts for the budgetary accounts, revenues, expenditures and encumbrances. Subsidiary accounts are not required. Budget information for the City includes: USe a) As of January 1, 2017, the City Council approved and the mayor signed a budget calling for $11,150,000 in property lax and other revenue, $9,350,000 in appropriations for expenditures, and $1,700,000 Lu be transferred to two debl service funds fur the payment of principal and inlerest. Record the budget for the General Fund and post to the ledger b) Also as of January 1, 2017, the City Council approved and the mayor signed a budget for the Street and Highway Fund that provided for estimated revenues from the state government in the amount of S1,068,000 and appropriations of S1,047,000. Record the budget and post to dhe ledger