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a)Prepare the required closing entries b) Prepare a balance sheet for the general fund. Assume outstanding encumbrances are assigned; $3,000 of the fund balance is

a)Prepare the required closing entries

b) Prepare a balance sheet for the general fund. Assume outstanding encumbrances are assigned; $3,000 of the fund balance is committed; and $20,000 of the fund balance is restricted.

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Accounts payable Appropriations Budgetary fund balance Budgetary fund balance: reserve for encumbrances Cash Deferred revenues: property taxes Due to other funds Encumbrances Estimated other financing sources Estimated other financing uses Estimated revenues Estimated uncollectible taxes Expenditures Fund balance Other financing sources Other financing uses Revenues Tax anticipation notes payable Taxes receivable Totals Debits Credits 6,800 160.000 38,000 5,000 116,500 3,000 5,000 5,000 8,000 10,000 200,000 2,000 154,000 54,700 10,000 11,000 199,000 30,000 29,000 523,500 523500

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