Explain if your team has been hired as the accountants for the Village of AIU. Your team is being asked to do the following:

• Explain how your team is provided with the adopted budget and the preclosing trial balance of the revenues and expenditures subsidiary ledgers at year-end.
  • Explain/and Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development.
  • Explain the beginning fund balance was $75,000.
• Describe how to prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of AIU general fund.
• Describe how to prepare the statement of revenues, expenditures, and changes in fund balancebudget and actualfor the Village of AIU General Fund for the 20X9 fiscal year.
• Explain how to work as a team to define an approach for producing the deliverables for this assignment.
• Explain to Assign individual work to each team member.

Please add your file.