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Below is the December 31, 2022 trial balance for Radnor Citys General Fund. Trial Balance Account Debit Credit Estimated revenuesproperty taxes $500,000 Estimated revenuesintergovernmental 150,000
Below is the December 31, 2022 trial balance for Radnor Citys General Fund.
Trial Balance | ||
---|---|---|
Account | Debit | Credit |
Estimated revenuesproperty taxes | $500,000 | |
Estimated revenuesintergovernmental | 150,000 | |
Estimated revenueslicenses and fees | 100,000 | |
Estimated revenuesfines | 50,000 | |
Budgetary fund balance | 10,000 | |
Appropriationsgeneral government | $159,000 | |
Appropriationsparks and recreation | 175,000 | |
Appropriationspublic safety | 446,000 | |
Appropriationssocial services | 30,000 | |
Expenditurespublic safety | 441,000 | |
Expendituresgeneral government | 150,500 | |
Expendituresparks and recreation | 170,500 | |
Expendituressocial services | 27,000 | |
Cash | 35,600 | |
Property taxes receivable | 67,200 | |
Tax anticipation notes payable | 10,000 | |
Interest payable | 800 | |
Revenuesproperty taxes | 497,000 | |
Revenuesintergovernmental | 154,000 | |
Revenueslicenses and fees | 99,000 | |
Revenuesfines | 48,000 | |
Fund balance | 62,000 | |
Vouchers payable | 21,000 | |
Total | $1,701,800 | $1,701,800 |
Use the trial balance to prepare the following: a) Statement of revenues, expenditures, and changes in fund balance Enter revenues and expenditures in order of magnitude (largest to smallest amounts). b) Prepare a balance sheet Enter liabilities in order of magnitude (largest to smallest amounts) Classify the fund balance as Unassigned. c) Prepare a budgetary comparison schedule. Enter revenues and expenditures in order of magnitude (largest to smallest amounts)
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