1. Do not mix budgetary and Actual accounts.
2. Do not include real or permanent accounts on the Statement of Revenues, Expenditures and Fund Balances.
3. Do not include temporary or nominal accounts on the Balance Sheet.
4. Make sure the balance Sheet balance.
5. Do not forget to close the nominal accounts into the Fund Balance.
6. The ending balance for the Fund Balance is the balance after closing the net results of the income or loss into the Fund Balance.

City of Claire General Fund Preclosing Trial Balance December 31, 20X0 Credit Debit 45,035 28,000 6,700 1.280 140 5,000 1.000 63.500 53,000 21.425 6.000 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Taxes Del Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest & Penalties Accounts Receivable Allowance for Uncollectible Accounts Vouchers Payable Encumbrances Outstanding Fund Balance Budgetary Fund Balance Encumbrances Estimated Revenues Appropriations Taxes Receivable Current Allowances for uncollectible Taxes-Current Taxes Revenue Salaries and Wages Expenditures Materials-Expenditures Rent Expenditures Capital Outlay Interest and Penalties Revenue Total $7,000 110,000 108,000 0 0 104,500 45,000 30,500 15.000 28,000 550 364.815 364,815 Instructions: 1. Prepare for the City of Claire General Fund a statement of revenues, expenditures, and changes in fund balance for the year ended December 31,20x0, b. Prepare a balance sheet at December 31, 20X0 for the City of Claire General Fund