(a) Prior to the start of the year, the governing board adopted a budget in which agency revenues were estimated at $6,300 (all dollar amounts in this exercise are expressed in thousands) and expenditures of $5,950 were appropriated (authorized). Record the budget using only the control (summary) accounts.

Dr. Estimated Revenues $6,300

Cr. Appropriations$5,950

Cr. Fund balance unassigned $350

(b) During the year, the district engaged in the following transactions. Prepare appropriate journal entries.

(1)It collected $6,450 in fees, grants, taxes, and other revenues.

Dr. Cash$6,450

Cr. Revenues $6,450

(2)It ordered goods and services for $3,500. Except in special circumstances it classifies reserves for encumbrances as assigned fund balance.

Dr. Encumbrances $3,500

Cr. Reserve for Encumbrances $3,500

(3)During the year, it received and paid for $3,100 worth of goods and services that had been previously encumbered. It expects to receive the remaining $400 in the following year.

Dr. Reserve for Encumbrances $3,100

Cr. Encumbrances $3,100

Dr. Expenditures$3,100

Cr. Cash$3,100

(4)It incurred $2,700 in other expenditures for goods and services that had not been encumbered.

Dr. Expenditures $2,700

Cr. Cash $2,700

(c) Prepare appropriate yearend closing entries.

(d) Prepare a balance sheet showing the status of yearend asset and fund balance accounts.

(e) Per the policy of the district's board, the cost of all goods and services is to be charged against the budget of the year in which they are received, even if they had been ordered (and encumbered) in a previous year. The next year, to simplify the accounting for the commitments made in the prior year, the district reinstated the encumbrances outstanding at yearend. Prepare the appropriate entry.

(f) During the year, the district received the remaining encumbered goods and services. However, the total cost was only $320, rather than $400 as estimated. Prepare the appropriate entries