Answers to problem 52 a) and b).

the outstanding os null, We City Closes out the remaining - outstanding and formally charges that balance to fund balance assigned since the ou invoices are expected to be honored in the next fiscal year. 52. Preparation of fund financial statements Assume that at the beginning of the fiscal year, the City of Iron River reports the following bal its accounts for the General Fund: lowing balances in Beginning Balances: DR $19,320 1,800 21,600 Cash.. Receivables: Real estate and personal property.... Intergovernmental.. Payables................. Deferred revenues .... Fund balances: Assigned. Unassigned $ 720 23.400 5,400 13,200 $42,720 $42,720 Using the journal entries you record for Problem 51, a. Prepare the pre-closing trial balance for the General Fund. b. From the pre-closing trial balance in Part a, prepare the City of Iron River's balance sheet and the statement of revenues, expenditures, and changes in fund balances for the fiscal year for th General Fund. 53. Journal entries for a series of transactions Prepare journal entries in the General Fund for each of the following events relating to the C Superior (all amounts in $1,000s). l ine hudaet for the year the outstanding os null, We City Closes out the remaining - outstanding and formally charges that balance to fund balance assigned since the ou invoices are expected to be honored in the next fiscal year. 52. Preparation of fund financial statements Assume that at the beginning of the fiscal year, the City of Iron River reports the following bal its accounts for the General Fund: lowing balances in Beginning Balances: DR $19,320 1,800 21,600 Cash.. Receivables: Real estate and personal property.... Intergovernmental.. Payables................. Deferred revenues .... Fund balances: Assigned. Unassigned $ 720 23.400 5,400 13,200 $42,720 $42,720 Using the journal entries you record for Problem 51, a. Prepare the pre-closing trial balance for the General Fund. b. From the pre-closing trial balance in Part a, prepare the City of Iron River's balance sheet and the statement of revenues, expenditures, and changes in fund balances for the fiscal year for th General Fund. 53. Journal entries for a series of transactions Prepare journal entries in the General Fund for each of the following events relating to the C Superior (all amounts in $1,000s). l ine hudaet for the year