Question
Following is the preclosing trial balance for the General Fund of the City of Doyle. Doyle City The General Fund General Ledger Trial Balance December
Following is the preclosing trial balance for the General Fund of the City of Doyle.
Doyle City
The General Fund
General Ledger Trial Balance
December 31, 2016
Cash $ 400,000
Certificates of Deposit 350,000
Due from State Government112,000
Due from Other Funds 30,000
Taxes Receivable 774,000
Estimated Revenue 3,110,000
Expenditures 1,960,000
Encumbrances 734,000
Transfers to Other Funds 90,000
Expenditures2015 55,000
Estimated Uncollectible Taxes $ 30,000
Vouchers Payable 64,000
Due to Other Funds 27,000
Fund BalanceUnassigned 760,000
Fund BalanceAssigned (Note 1) 784,000
Appropriations 2,700,000
Revenue 3,210,000
Transfers from Other Funds ___________40,000
$7,615,000 $7,615,000
Note 1: Includes $50,000 of encumbrances from 2015.
Required:
Prepare in general journal form the closing entries for the General Fund of Doyle City.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started