Question
Below is the preclosing trial balance of a county's general fund at year-end: Dr Cr Cash $ 45,000 Property taxes receivable 180,000 Due from other
Below is the preclosing trial balance of a county's general fund at year-end:
|
| Dr | Cr |
| Cash | $ 45,000 |
|
| Property taxes receivable | 180,000 |
|
| Due from other funds | 25,000 |
|
| Estimated revenues | 2,300,000 |
|
| Operating expenditures | 1,963,000 |
|
| Capital outlay | 120,000 |
|
| Debt service: Principal | 50,000 |
|
| Debt service: Interest | 140,000 |
|
| Transfers out | 29,000 |
|
| Allowance for uncollectible property taxes |
| $ 150,000 |
| Accounts payable |
| 45,000 |
| Due to other funds |
| 22,000 |
| Appropriations |
| 2,275,000 |
| Estimated other financing uses |
| 30,000 |
| Property tax revenues |
| 2,295,000 |
| Fund balanceunassigned | _________ | 35,000 |
|
| $ 4,852,000 | $ 4,852,000 |
- The general fund's year-end balance sheet will report total liabilities of:
|
| A. | $195,000 |
|
| B. | $ 67,000 |
|
| C. | $217,000 |
|
| D. | $ 45,000 |
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