Greenville has provided the following information from its General Fund Revenues and Appropriations Expenditure Encumbrances subsidiary ledgers for the fiscal year ended Assume the beginning fund balances are $162 (in thousands) and that the budget was not amended during the year City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Estimated Revenue Taxes 6,048 Fines Forfeits 303 Intergovernmental Revenue 509 Charges for Services 370 Revenues Taxes 6,075 Fines Forfeits 308 Intergovernmental Revenue 509 Charges for Services 367 Appropriations General Government 1,645 Public Safety 3,375 Public Works 1,456 Culture Recreation 724 Estimated Other Financing Uses Interfund Transfers Out 59 Expenditures General Government 1,622 Public Safety 3,353 Public Works 1,443 Culture Recreation 715 Encumbrances General Government 21 Public Safety 20 Public Works 11 Culture Recreation 0 Other Financing Uses Interfund Transfers Out 59 Required Prepare a General Fund statement of revenues, expenditures, and changes in fund balance Prepare a General Fund schedule of revenues, expenditures, and changes in fund balancebudget and actual (assume the budget is prepared on a GAAP basis)

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 04, 2024

Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances

Greenville has provided the following information from its General Fund Revenues and Appropriations/Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $162 (in thousands) and that the budget was not amended during the year.

City of Greenville
General Fund
Subsidiary Ledger Account Balances (in thousands)
For the Fiscal Year
	Debits		Credits
Estimated Revenue
Taxes		6,048
Fines & Forfeits		303
Intergovernmental Revenue		509
Charges for Services		370
Revenues
Taxes				6,075
Fines & Forfeits				308
Intergovernmental Revenue				509
Charges for Services				367
Appropriations
General Government				1,645
Public Safety				3,375
Public Works				1,456
Culture & Recreation				724
Estimated Other Financing Uses
Interfund Transfers Out				59
Expenditures
General Government		1,622
Public Safety		3,353
Public Works		1,443
Culture & Recreation		715
Encumbrances
General Government		21
Public Safety		20
Public Works		11
Culture & Recreation		0
Other Financing Uses
Interfund Transfers Out		59

Required

Prepare a General Fund statement of revenues, expenditures, and changes in fund balance.
Prepare a General Fund schedule of revenues, expenditures, and changes in fund balancebudget and actual (assume the budget is prepared on a GAAP basis).