E17-11 Statement of Revenues, Expenditures, and Changes in Fund Balance LO 17-7

The preclosing trial balance at December 31, 20X1, for Lone Wolfs general fund follows.

	Debit			Credit
Cash	$	92,000
Property Taxes ReceivableDelinquent		123,100
Allowance for UncollectiblesDelinquent				$	7,400
Due from Other Funds		14,900
Vouchers Payable					62,000
Due to Other Funds					8,600
Fund BalanceUnassigned					124,000
Property Tax Revenue					1,145,000
Miscellaneous Revenue					35,000
Expenditures		1,135,000
Other Financing UsesTransfer Out		17,000
Estimated Revenues Control		1,212,000
Appropriations Control					1,150,000
Estimated Other Financing UsesTransfer Out					17,000
Encumbrances		39,000
Budgetary Fund BalanceAssigned for Encumbrances					39,000
Budgetary Fund BalanceUnassigned					45,000
Total	$	2,633,000		$	2,633,000

Lone Wolf uses the purchase method of accounting for inventories and the lapsing method of accounting for encumbrances.

Assume that the balances on December 31, 20X0, were as follows:

Fund BalanceAssigned for Encumbrances	$	30,000
Fund BalanceUnassigned		94,000

Required:

Prepare a general fundonly statement of revenues, expenditures, and changes in fund balance for fiscal 20X1.